On August 20, 2020, the New York State Supreme Court, Appellate Division, Fourth Department issued a decision in Cornell University v. Board of Assessment Review (“Cornell University”), finding that a solar photovoltaic system is taxable real property. See No. CA 19-00339, slip op. 04636, 2020 WL 4876486 (4th Dep’t Aug. 20, 2020). This decision settled, at least in the Fourth Department, a real property tax question long considered—and feared—by solar developers. Although this decision has the potential for significant impacts on solar development projects throughout New York State, it may be possible to mitigate the financial impact of this tax burden with careful planning and mindful project decisions.
Continue Reading Solar Photovoltaic Systems Are Taxable Real Property: Fourth Department Decision Requires Consideration in Early Project Development