[Adopted 10-23-2024 by L.L. No. 14-2024]
Pursuant to § 470 of the Real Property Tax Law and subject to all the conditions set forth therein, the Board of Trustees of the Village of Croton-on-Hudson hereby grants a real property tax exemption for improvements to real property meeting LEED certification standards for green buildings.
Construction of improvements to real property initiated on or after January 1, 2013, meeting certification standards for green buildings as provided in this section, including LEED, the green building initiative's green globes rating system, the national green building standards as approved by the American National Standards Institute, or substantially equivalent standards for certification using a similar program for green buildings as determined by the Village, using a certification standard which is equivalent to the categories of certified, silver, gold or platinum as meeting green building standards, as certified by an accredited professional and approved by the assessor, shall be exempt as provided below. Such exemption shall be to the extent of any increase in assessed value resulting from the construction or reconstruction of a property meeting LEED, green globes rating system, national green building standards or similar program certification.
LEED or Similar Exemption Based on Certification Level
Year
Silver
Gold
Platinum
1
100%
100%
100%
2
100%
100%
100%
3
100%
100%
100%
4
80%
100%
100%
5
60%
80%
100%
6
40%
60%
100%
7
20%
40%
80%
8
0%
20%
60%
9
0%
0%
40%
10
0%
0%
20%
The maximum exemption amount for the exemption provided by this article shall be $200,000 of increased market value of the qualifying construction improvements.
A. 
No such exemption shall be granted unless:
(1) 
The construction of improvements to real property was commenced on or after January 1, 2013;
(2) 
The value of such construction exceeds the sum of $10,000; and
(3) 
Such construction is documented by a building permit and certificate of occupancy.
B. 
For the purposes of this article, the term "construction of improvements" shall not include any ordinary maintenance and repairs.
[Amended 7-9-2025 by L.L. No. 10-2025]
Application for an exemption pursuant to this article shall be made to the Assessor responsible for preparing the assessment roll for the Village of Croton-on-Hudson on or before the taxable status date of May 1 to be eligible for an exemption to be entered on the assessment roll prepared on the basis of said taxable status date. Any such application shall include documentation from a LEED-accredited professional certifying that the improvements meet green building standards for the categories of certified silver, gold or platinum.