Archive for the ‘Pollution Control’ Category

Bill Would Tighten Tax Incentives on Pollution in Florida

Tuesday, May 14th, 2013

The Florida Legislature has approved a bill that would cause businesses to no longer receive state tax breaks because of perceived pollution on their properties. According to the Orlando Sentinel, in 2011 and part of 2012, Florida companies received as much as $11 million in Brownfield economic-development tax breaks, even though many of which were building on ground that does not appear to be contaminated. These companies were able to get breaks anyways because the law is currently written in a way that only requires the perception of contamination, not actual proof.

The bill would change the requirements for the incentive to be only for companies who are on or next to property where a pollution-cleanup agreement with the government is in place. On top of that, it would require state economists to conduct more rigorous studies to see what benefits business tax incentives create.

To read the full article from the Orlando Sentinel, click here.

Posted in Eastern, Environment, Green Initiatives, Personal Property, Pollution Control, Real Property | No Comments »

Property Tax Exemption for Renewable Energy Passes CT Senate

Monday, April 29th, 2013

A Bill that would exempt commercial and industrial renewable generation equipment from property tax in the state of Connecticut has passed the State Senate. According to Power Engineering, Senate Bill 203 would extend an existing tax credit for residential renewable energy equipment to also include commercial and industrial installations. The Bill’s leader, Senator Bob Duff, believes that this property tax exemption will prove to be a great incentive for more renewable development as the state tries to encourage more clean energy.

The tax break should help with encouraging more commercial properties across the state to implement renewable energy. The Bill would expand a current property tax exemption for most sources of renewable electric generation, including all Class I resources, as well as solar thermal and geothermal resources used for heating. Currently the exemption only applies to such sources installed in a residential setting.

Posted in Complex, Eastern, Economy, Environment, Green Initiatives, Industrial & Manufacturing, Personal Property, Pollution Control, Real Property | No Comments »

Improving Commercial Real Estate Environmental Performance

Monday, March 11th, 2013

While the commercial real estate industry has taken great strides in reducing their carbon footprint, industrial plants and commercial buildings still account for 45% of the greenhouse gas emissions produced in the US. According to the Atlanta Business Chronicle, with the expected increases in demand for energy in the future, the commercial real estate industry can help protect the environment while also improving bottom lines and making sites more appealing to tenants.

The following are some areas where commercial owners can improve the environmental performance of their facilities:

  • Lighting – Replacing traditional lighting with compact, low-wattage lamps
  • Roofing – Implementing a cool roof in order to deflect the sun’s rays
  • HVAC – Buying systems within your needs that are new and energy-efficient
  • Automation – Implementing automation systems that can control lights, air conditioning, sprinklers, etc.

To read the full article from the Atlanta Business Chronicle, click here.

Posted in Environment, Green Initiatives, Pollution Control, Real Property | No Comments »

Data Centers Making Strides towards Energy Efficiency

Monday, January 14th, 2013

Industry professionals are starting to succeed in creating greener data centers in hopes of turning around their reputation as energy hogs. According to the National Real Estate Investor, U.S. Green Building Council’s fourth version of Leadership in Energy and Environmental Design (LEED) includes data centers, a step that shows effort in removing the barriers to allow even more data facilities to participate in LEED and build sustainability.

Experts are working to make data centers more efficient in many ways, most commonly through containment, or the idea of containing cold air that cools the center’s computer system at the front of the building with screens, and providing an escape chimney for hot air released from the center’s back. Still though, the easiest way towards sustainability, although very expensive, is to purchase high-end energy efficient computers at the forefront.

To read the full article from the National Real Estate Investor, click here.

Posted in Environment, Green Initiatives, Industrial, Office, Personal Property, Pollution Control, Real Property | No Comments »

Commercial Real Estate Owners Avoid Costly Sustainability Revamps

Wednesday, November 21st, 2012

Most commercial real estate companies are avoiding capital investments for sustainability revamps and instead are focusing on self-financed projects with a direct financial benefit. According to Justmeans, even though there is more capital available for energy retrofits and renewable energy installations, real estate businesses tend to favor projects with a more moderate budget such as lighting retrofits and temperature controls as opposed to expensive HVAC upgrades that would save more energy in the long run but are not as obvious to tenants.

With the reality that green initiative upgrades attract tenants, but don’t necessarily allow for an increase in rent, many owners are focused on doing improvements on the cheap in order to increase the ROI of the building. Industry analysts urge owners to analyze the cost and financial payback of a whole-building energy retrofit, and to take advantage of tax incentives in order to save more money over the long haul.

To read the full article from Justmeans, click here.

Posted in Economy, Environment, Green Initiatives, Pollution Control, Real Property | No Comments »

Businesses Get New Finance Option for Energy Efficient Improvements

Thursday, October 25th, 2012

The San Diego, California City Council will again allow commercial property owners to finance water and energy efficient improvements. According to the North County Times, the Property Assessed Clean Energy program allows commercial property owners to get privately backed loans to buy insulation, energy efficient appliances, solar panels, and water efficient fixtures and repay the loans on their property tax bills. Payments will stay with the property, not the business.

The program, started in California four years ago, is expected to create a lot of jobs while simultaneously reducing energy bills. The San Diego City Council approved the program as it allows for the avoidance of federal objectives by focusing on commercial properties which typically do not have financing from the big mortgage lenders. The city is also hoping to implement the same program for homeowners in the near future.

To read the full article from the North County Times, click here.

Posted in Economy, Environment, Green Initiatives, Pollution Control, Real Property, Western | No Comments »

Tennessee Proposes Legislation Impacting Renewable Energy Property

Friday, March 30th, 2012

Tennessee officials have proposed legislation that would increase taxes on solar and other renewable energy property. According to Nooga.com, supporters of the proposal said the current law needs to be changed because the tax is so small it is the “practical equivalent of an exemption,” which is unconstitutional. The constitution of the state of Tennessee says that all property is subject to taxation. Thos in opposition believe that the change would hurt solar energy system owners by imposing a larger property tax.

A clause has been inserted in the legislation that will allow companies that already have solar arrays to apply for an exemption that could be grandfathered in, as a means to avoid the tax increase. As it currently stands, solar installations are assessed at one-third of scrap value. A scrap rate of only 0.5% leads many to believe the little amount of tax makes it unconstitutional.

To read the full article from Nooga.com, click here.

Posted in Complex, Environment, Green Initiatives, Industrial & Manufacturing, Mid America, Personal Property, Pollution Control | No Comments »

Virginia Legislation Provides New Pollution Control Equipment Exemptions

Wednesday, January 5th, 2011

Effective for tax years beginning on or after January 1, 2011, all counties in Virginia will now be required to offer an exemption on pollution control equipment. House Bill 2084 — Chapter 671 provides the exemption for pollution control equipment but excludes the land on which the equipment is located. All equipment must meet the criteria of certified control equipment. Prior to the new Bill being enacted, counties were authorized, but not required, to offer an exemption for pollution control equipment.

Depending on the county, applications are required to be submitted no later than February 15th along with supporting documentation stating that the pollution control equipment was approved by a state certifying attorney. Pollution control equipment certification carries zero statute of limitations, and equipment must be Durable vs. Consumable.

To learn more about specific criteria for certified control equipment, click here.

Posted in Eastern, Environment, Paradigm Info, Personal Property, Pollution Control | No Comments »