Pursuant to § 470 of the Real Property Tax Law of
the State of New York, the Town Board of the Town of Babylon may grant
a real property tax exemption for improvements to real property meeting
LEED certification standards for green buildings as provided in this
article, the green building initiative's green globes rating system,
the American National Standards Institute, or substantially equivalent
standards for certification using a similar program for green buildings
as determined by the Town.
The purpose of this legislation is to exercise this local power
by granting real property tax exemptions to property owners who make
improvements to real property that meet or exceed LEED certification
standards or other equivalent certification standards as determined
by the Town.
Construction of improvements to real property initiated on or
after the first day of January, 2013, meeting LEED certification standards
for green buildings as provided in this section, the green building
initiative's green globes rating system, the American National Standards
Institute, or substantially equivalent standards for certification
using a similar program for green buildings shall be exempt from taxation
to the extent provided by this article.
The maximum exemption amount for the exemption provided by this
article shall be $250,000 of increased market value of the qualifying
construction improvements.
This article shall take effect immediately upon filing in the
office of the Secretary of State of New York.
If any clause, sentence, paragraph, subdivision, section or
other part of this article shall for any reason be adjudged by any
court of competent jurisdiction to be unconstitutional or otherwise
invalid, such judgment shall not affect, impair, or invalidate the
remainder of this article, and it shall be construed to have been
the legislative intent to enact this article without such unconstitutional
or invalid parts therein.