Property Assessed Clean Energy (PACE) allows property owners in South Lake Tahoe to borrow money, usually on a 20-year term, and repay it with a special property tax assessment that won’t require a cash down payment or inhibit the businesses ability to borrow money for operations in the future.
The financing program approved by the City Council creates an assessment lien on the property. It is repaid as semi-annual installments on the property tax bill. The goal is help residents to use clean energy.
Property owners may look up their property online to find out if they qualify.