Abstract:
The importance of living “green” has evolved and practiced around the globes nowadays. This included greening the buildings in order to absorb the benefits of living in green in daily life. There are lots of new and existing buildings that being transformed into green building. The development of green buildings got well supports from all channels including the local municipal. The local municipal in United States have provided three types of property tax incentives for green buildings which are property tax exemption, property tax reduction and property tax credit. Each of these models was developed according to LEED’s green criteria. Whereby Malaysia are using GBI green criteria as listed in GBI’s Malaysia. Therefore, this paper focus on LEED’S green criteria that been used in the property tax incentives in order to establish property tax incentives according to GBI on green buildings in Malaysia. This is essen- tial in order to explore the potential of property tax incentives on green building to be develop in Malaysia. Therefore, this paper attempts to determine the bases used in formulating these property tax incentives models for green building by achieving these two objectives which are: 1) to explore types of property tax incentives that available for green buildings in United States and 2) to determine the bases in formulating property tax incentives model for green buildings. This paper was focused on a 44 local municipals in United States that provided property tax incentive for green buildings. The results show that there were no specific or definite bases used in formulating all the property tax incentives models.
