Assemblymember Didi Barrett (D-Dutchess/Columbia) and Senator Nathalia Fernandez (D Bronx/Westchester) announced that their bill, the Greener Home Improvements Act, has been signed into law (Chapter 590 of 2024). This new law will allow municipalities to create a property tax exemption for capital improvements to residential buildings that reduce carbon emissions.

“As we continue to work to reduce greenhouse gas emissions and meet our climate goals, it is crucial that we provide New Yorkers across the state with the resources and pathways to be part of the clean energy transition. This legislation does just that while also empowering local governments,” said Assemblymember Didi Barrett. “I thank Governor Hochul and Senator Fernandez for their partnership in getting the Greener Home Improvements Act over the finish line.”

Senator Fernandez said, "This legislation is a significant step toward achieving the greenhouse gas reduction goals outlined in the Climate Leadership and Community Protection Act. By offering tax exemptions for energy-efficient home improvements, we're empowering homeowners to contribute to a greener New York. This is how we build a sustainable future— one home at a time."

The Greener Home Improvements Act establishes a 20-year tax exemption for carbon-reducing capital improvements on residential buildings, a 100% exemption on the increased assessed value of the home for the first 10 years and decreasing by 10% each year thereafter. Municipalities may opt into the property tax exemption by enacting a local law or resolution. Eligible improvements range from energy retrofits like replacing or installing insulation to the installation of solar panels and heat pumps.