Form RP-470 "Application for Real Property Tax Exemption for Green Buildings" - New York

What Is Form RP-470?

This is a legal form that was released by the New York State Department of Taxation and Finance - a government authority operating within New York. As of today, no separate filing guidelines for the form are provided by the issuing department.

Form Details:

  • Released on May 1, 2017;
  • The latest edition provided by the New York State Department of Taxation and Finance;
  • Easy to use and ready to print;
  • Quick to customize;
  • Compatible with most PDF-viewing applications;
  • Fill out the form in our online filing application.

Download a fillable version of Form RP-470 by clicking the link below or browse more documents and templates provided by the New York State Department of Taxation and Finance.

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Download Form RP-470 "Application for Real Property Tax Exemption for Green Buildings" - New York

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RP-470
Department of Taxation and Finance
Office of Real Property Tax Services
Application for Real Property Tax
(5/17)
Exemption for Green Buildings
(Real Property Tax Law, Section 470)
For help in completing this form, see the instructions on page 2.
Name(s) of owner(s)
Mailing address of owner(s)
Location of property
(number and street or PO box)
(street address)
City, village, or post office
State
ZIP code
City, town, or village
State
ZIP code
Daytime contact number
Evening contact number
School district
E-mail address
Tax map number of section/block/lot: Property identification (see tax bill or assessment roll)
1 Description of property for which exemption is sought:
New construction
Rehabilitation
Expansion
2 Certified level or its non-LEED equivalent for which exemption is sought (attach copy of LEED or equivalent certification):
Certified/Silver
Gold
Platinum
3 Project implementation
a. Total cost of LEED or equivalent certified project: $
(do not include costs attributable to ordinary maintenance and repairs)
b. Date project was started:
c. Date completed (attach copy of Certificate of Occupancy):
Certification
I(we),
, hereby certify that the information on this application and any
accompanying pages constitutes a true statement of fact.
Signature
Date
Signature
Date
This Area for Assessor’s Use Only
1 Date application filed:
2 Applicable taxable status date:
3 Action on application:
Approved
Denied
4 Assessed valuation of parcel in first year of exemption: $
5 Increase in total assessed valuation in first year of exemption: $
6 Amount of exemption in first year:
Percent
Amount
Town
$
County
$
Village
$
School district
$
Assessor’s name
Assessor’s signature
Date
RP-470
Department of Taxation and Finance
Office of Real Property Tax Services
Application for Real Property Tax
(5/17)
Exemption for Green Buildings
(Real Property Tax Law, Section 470)
For help in completing this form, see the instructions on page 2.
Name(s) of owner(s)
Mailing address of owner(s)
Location of property
(number and street or PO box)
(street address)
City, village, or post office
State
ZIP code
City, town, or village
State
ZIP code
Daytime contact number
Evening contact number
School district
E-mail address
Tax map number of section/block/lot: Property identification (see tax bill or assessment roll)
1 Description of property for which exemption is sought:
New construction
Rehabilitation
Expansion
2 Certified level or its non-LEED equivalent for which exemption is sought (attach copy of LEED or equivalent certification):
Certified/Silver
Gold
Platinum
3 Project implementation
a. Total cost of LEED or equivalent certified project: $
(do not include costs attributable to ordinary maintenance and repairs)
b. Date project was started:
c. Date completed (attach copy of Certificate of Occupancy):
Certification
I(we),
, hereby certify that the information on this application and any
accompanying pages constitutes a true statement of fact.
Signature
Date
Signature
Date
This Area for Assessor’s Use Only
1 Date application filed:
2 Applicable taxable status date:
3 Action on application:
Approved
Denied
4 Assessed valuation of parcel in first year of exemption: $
5 Increase in total assessed valuation in first year of exemption: $
6 Amount of exemption in first year:
Percent
Amount
Town
$
County
$
Village
$
School district
$
Assessor’s name
Assessor’s signature
Date
Page 2 of 2 RP-470 (5/17)
Instructions
Authorization for exemption
Application of exemption
Real Property Tax Law section 470 provides local
The exemption may apply to county, city, town, village,
governments and public school districts the option of
and school district taxes. It does not apply to special ad
offering a partial tax exemption from taxes to properties
valorem levies and special assessments. Each taxing
that are constructed or reconstructed to meet certification
jurisdiction must adopt a local law or ordinance, or, in the
standards for green buildings. The partial exemption
case of a school district, a resolution, providing for the
does not apply to special ad valorem levies and special
exemption. Each taxing jurisdiction may also establish
assessments. The property owner must meet the following
a maximum exempt amount in its law, ordinance, or
requirements:
resolution.
• The property must meet certification standards for
Place of filing of exemption application
green buildings as established under the Leadership in
Application for this exemption from county, city, town,
Energy and Environmental Design (LEED) program, the
or school district taxes must be filed with the city or
green building standards as approved by the American
town assessor. Application for exemption from village
National Standards Institute, the Green Buildings
taxes must be filed with the assessor who prepares
Initiative’s Green Globes rating system, or substantially
the assessment roll in levying village taxes. In Nassau
equivalent standards for certification using a similar
County, applications for exemption from county, town,
program for green buildings as determined by the
or school district taxes must be filed with the Nassau
municipal corporation. Indicate the level of certification
County Department of Assessment. In Tompkins County,
for which exemption is sought: certified/silver, gold, or
exemption from county, city, town, village or school district
platinum.
taxes must be filed with the Tompkins County Department
• Regardless of which of the above standards is used to
of Assessment. Do not file this form with either the New
determine eligibility, an accredited professional must
York State Department of Taxation and Finance or the
certify that the project meets green building standards;
Office of Real Property Tax Services.
applicant must attach a copy of the certification to
Form RP-470.
Time of filing application
• The cost of construction of the project must exceed
The application must be filed in the assessor’s office
$10,000.
on or before the appropriate taxable status date, which,
• Costs attributable to ordinary maintenance and repairs
in most towns, is March 1. In Nassau County, taxable
are not eligible for the exemption.
status date is January 2, but that county is authorized to
• The eligible project may not commence until after
establish a later filing date; contact the county to obtain
January 1, 2013, or after such later date on which he
that date. Westchester County towns have either a May 1
municipality’s local law, ordinance, or resolution has
or June 1 taxable status date; contact the assessor in the
taken effect.
town where the property is located. In cities, such date
is determined from charter provisions. In New York City,
• Completion of project must be demonstrated by a
taxable status date is January 5, but applications for this
Certificate of Occupancy.
exemption may be filed on or before March 15. Once the
exemption has been granted, the exemption may continue
Duration and computation of exemption
for the authorized period provided that the eligibility
If the exemption is locally authorized, the exemption
requirements continue to be satisfied. It is not necessary
benefit will depend upon the level of LEED certification (or
to reapply for the exemption after the initial year in order
its equivalent) of the eligible project. For all three levels,
for the exemption to continue.
the exemption benefit is calculated as the increase in
assessed value attributable to completion of the certified
project:
• If the certification level is Certified/Silver (or its non-
LEED equivalent), the exemption benefit extends over
seven years, at 100% for the first three years, declining
by 20 percentage points in each succeeding year
thereafter.
• If the certification level is Gold (or its non-LEED
equivalent), the exemption benefit extends over eight
years, at 100% for the first four years, declining by 20
percentage points in each succeeding year thereafter.
• If the certification level is Platinum (or its non-LEED
equivalent), the exemption benefit extends over ten
years, at 100% for the first six years, declining by 20
percentage points in each succeeding year thereafter.
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