Local Law 97 penalty estimate
555 West 173rd Street may pay $35,901/year in fees starting in 2030
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Why is this property expected to pay a fee beginning in 2030?
- Beginning in 2030, the city drops the emissions cap by 40%.
- At the same energy use, 555 West 173rd Street will be 134 tons over the cap.
- Penalty is $268/ton over the cap, $35,901 total
0Cap: 185 tons319 tons emitted
What is the estimated penalty for 555 West 173rd Street right now?
$3,274/year
- NYC caps a building's yearly greenhouse gas emissions.
- 555 West 173rd Street is 12 tons over the emissions cap.
- Penalty is $268/ton over the cap, $3,274 total
0Cap: 307 tons319 tons emitted
Why does the penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 307 to 185 tons.
How much would the building need to cut its emissions to avoid the penalty?
42% less emissions than today
- This building must emit 42% less to avoid penalties.
- Owners can utilize energy efficiency upgrades or switch from gas or oil to electric.
How reliable is this estimate?
- This is a planning estimate, not the city's official number.
- Owners report their own energy use, and reports can have mistakes.
- The city makes the final call.
- ✓Energy use comes from the building's own 2024 report to the city
- ✓Emissions rates for 2024 to 2029 match the law
- ✓Emissions rates for 2030 on match the city rule
- ✓The property type is matched to the city's category
- ○The compliance route the city assigns is not confirmed
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