Rep. Nan Hayworth Promotes Tax Assessment Credits For Energy Efficiency

BEDFORD HILLS, NY (WCBS 880) – Homeowners seeking dollars for clean energy and efficiency improvements through property tax assessments may find such programs unavailable.

WCBS 880’s Paul Murnane On The Story

That’s thanks to what Rep. Nan Hayworth (R-New York) sees as an overreach by the federal overseers of Fannie Mae and Freddie Mac.

“They claim that it creates obligation, a debt obligation, that may jeopardize recovery in case of a foreclosure,” she said Tuesday.

Hayworth says the data shows that homeowners with such assessments default less often.

She’s backing legislation that would open up federally backed to such PACE, or Property Assessed Clean Energy, programs.

“We really ought to be seeing more PACE loans,” she said.

Supporters say these are paid for by government bonds, but homeowners repay the debt.

They say town budgets and credit ratings are not affected.

Do you think Hayworth’s plan is a good one? Sound off in the comments section below!

More from Paul Murnane
  • Ed Robin

    This is good news and a great step foward in sustainable energy to the home owner. What about considering industrial properties (apt complexes, factories, super markets, etc.)?
    Ed Robin
    Croton on Hudson

  • A.F.

    People stand up and support Nan Hayworth on this issue.
    PACE financing means you can buy a new furnace or boielr or re-insulate your home. And it will be paid for by small monthly payments added to either your tax bill or utility bill for several years.
    The payments are tied to the property – not to you personally.
    So if you sell the home, the buyer will pickup the payments.
    And the work is installed by govt. certified contractors who must ensure it’s energy savings. are real.

  • Lea Cullen Boyer

    This is wonderful news. Thank you Representative Hayworth for revisiting this very important concept.

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