NYC: Green Roofs Get a Tax Break

Green roofs look good, absorb tons of storm water and carbon dioxide, reduce noise, air pollution and stress, add a layer of insulation, and can extend the life of the roof by protecting it from ultraviolet rays. They can reduce home air conditioning costs by 10-20 percent while lowering peak demand. Each 10,000 square feet of green roof traps 6,000-12,000 gallons of water, diverting it from the sewer system, and noticeably cooling 10 acres of city as the water evaporates. Now, in New York City, green roofs can get you a tax break, too.

The state passed a bill giving building owners who plant on 50 percent or more of the roof surface a one-year property tax credit of up to $100,000, or approximately $4.50 per square foot of planted area. That’s about a quarter of the installed cost, and backers hope it will tip more people into deciding they’ll do it. Projected benefits also include green jobs as local businesses respond to increased demand, which could bring down the cost eventually as well. Storm Water Infrastructure Matters (SWIM) Coalition championed the bill. Such government support is seen by some as essential to making green roofs as popular as in Germany, where 10 percent of the flat roofs are reported to be green and green roofs are a $77 million a year business.

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