Posts tagged Greening incentives

Greening incentives for new construction and renovations in Charlottesville

Our Sustainability Committee is recommending to City Council that Charlottesville offer a one-time 50% property tax cut for buildings that meet this goal.One thought is that this might encourage builders to “go green” knowing that they can tell potential buyers that their first-year property tax bill will be cut in half.  Two questions: (1) would this really be much of an inducement to builders or buyers and (2) more importantly, would this just be giving property tax relief to builders or property owners who were likely going to make these kinds of improvements anyway (and have the financial wherewithal to do so)?”Here’s the relevant Code:Energy-efficient buildings, not including the real estate or land on which they are located, are hereby declared to be a separate class of property and shall constitute a classification for local taxation separate from other classifications of real property….  The rate of tax imposed by any county, city, or town on such buildings shall not exceed that applicable to the general class of real property.For purposes of this section, an energy-efficient building is any building that exceeds the energy efficiency standards prescribed in the Virginia Uniform Statewide Building Code by 30 percent….  Market to the mortgage brokers to get them to find and educate themselves and consumers about Energy Efficient Mortgages.- Consider extending the tax break for a three-year period.- Fast-track green developments/improvements- Provide incentives to builders to innovate more rapidly.

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