Local Law 97 penalty estimate
40-01 12th St: $992,611/year in fees starting in 2030
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What would the estimated penalty be in 2030, assuming nothing changes?
$992,611/year
- Beginning in 2030, the city drops the emissions cap by 40%.
- At the same energy use, 40-01 12th St will be 3,704 tons over the cap.
- Penalty is $268/ton over the cap, $992,611 total
4,780 ton cap3,704 over
What is the estimated penalty for 40-01 12th St right now?
$149,110/year
- NYC caps a building's yearly greenhouse gas emissions.
- 40-01 12th St is 556 tons over the emissions cap.
- Penalty is $268/ton over the cap, $149,110 total
7,927 ton cap556 over
Why does the penalty change in 2030?
- The emissions cap will be lowered by 40% in 2030, from 7,927 to 4,780 tons.
How much would the building need to cut its emissions to avoid the penalty?
44% less emissions than today
- This building must emit 44% 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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