Renewable energy systems, such as solar panels, for businesses and homes would be exempt from property taxes under a bill that was unanimously approved yesterday by the [New Jersey] Senate Budget and Appropriations Committee.
The bill now heads to the full Senate. Identical legislation is pending in the Assembly Appropriations Committee.
“We need to do everything we can to make sure that renewable energy systems are affordable for families and businesses and promote green technology,” said Sen. John H. Adler, (D-Camden), a sponsor of the bill along with Sen. Bob Smith (D-Middlesex).
Exempted systems include energy produced by solar technology, photovoltaic technology, wind energy, wave or tidal action, methane gas from an on-site landfill and hydropower.
The bill would allow property owners to exempt such systems as long as they are in use. The bill would also exempt property owners from municipal construction permit fees to build the systems.
By Scott Goldstein
20 May 2008
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