I'm wondering if someone more adept at legal jargon can help me understand this:
"Beginning January 1, 2015 all solar facilities under 20 MW and certified with either a local building authority or the Department of Environmental Quality are exempt from state and local taxes. The law broadly defines eligible solar facilities as "any property, including real or personal property, equipment, facilities, or devices...designed and used primarily for the purpose of collecting, generating, transferring, or storing thermal or electric energy." (DSIRE)
I'm curious to know if a solar powered home would qualify. I don't even see that it has to produce a minimum amount of electricity. But how to get it "certified with either a local building authority or the Department of Environmental Quality" ? Maybe it's only good for solar farms...
D. Upon receipt of the certificate from the local building department or the Department of Waste Management the local assessing officer shall, if such local ordinance is in effect, proceed to determine the value of such qualifying solar energy equipment, facilities or devices or certified recycling equipment, facilities, or devices. The exemption provided by this section shall be determined by applying the local tax rate to the value of such equipment, facilities or devices and subtracting such amount, wholly or partially, either (i) from the total real property tax due on the real property to which such equipment, facilities, or devices are attached or (ii) if such equipment, facilities, or devices are taxable as machinery and tools under § 58.1-3507, from the total machinery and tools tax due on such equipment, facilities, or devices, at the election of the taxpayer. This exemption shall be effective beginning in the next succeeding tax year, and shall be permitted for a term of not less than five years. In the event the locality assesses real estate pursuant to § 58.1-3292, the exemption shall be first effective when such real estate is first assessed, but not prior to the date of such application for exemption.
I believe the regulation allows you to deduct the tax rate of the solar equipment from the value of the property thus lowering your real estate tax.
We can green the world through random acts of planting.
posted 5 years ago
Thank you for your replies!
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