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 Office of Economic Development  Orange County, NY
 
Incentives

Orange County, NY
Industrial Development Agency (IDA)

Your source for information on real estate property tax abatement, mortgage recording tax abatement and sales tax exemptions.

Real Property Tax Abatement
  The Orange County IDA offers real property tax abatements in enhancements to a property that result in an increase in the property assessment by the taxing jurisdiction (County, Village and School District). The IDA PILOT (Payment In Lieu of Taxes) consists of an agreed- upon percentage of the improvements that would be otherwise due on the property if the project was completed without IDA tax abatements. The IDA offers a 10-year and 15-year PILOT. The 10-and 15-year PILOT is awarded on a case-by-case basis and projects are subject to eligibility requirements.
   

Mortgage Recording Tax Exemption

Any mortgage filed with respect to an agency (IDA) sponsored project is exempt from the 1.05% New York State mortgage recording tax.

   

Sales Tax Exemption

The IDA can offer exemptions from sales tax on the materials purchased during construction of a project and for the equipment purchased for a project.

   

Foreign Trade-Zone Program

Orange County, NY is host to Foreign Trade Zone #37

What is a Foreign-Trade Zone Program?

The Foreign-Trade Zone Program was established by Congress under the FTZ Act of 1934. Its purpose is to “expedite and encourage foreign commerce” with the intent to stimulate international trade while creating jobs and investment in the United States. Approval for participation in the Foreign Trade-Zone Program affords the user an exemption to the tariff schedule of the United States, allowing the deferral, reduction or elimination of duties paid on imported materials and goods in exchange for sustained or increased jobs and investment in the U.S.

   
 

Call us for more information on how you can benefit from the current real estate tax abatements, mortgage recording / sales tax exemptions and foreign trade-zone benefits available in Orange County, NY.

More Information
Available Orange County New York Sites - Office of Economic Development
 
 
The Orange County Partnership
Office of Economic Development

40 Matthews Street, Suite 108
Goshen NY, 10924
Phone: 845-294-2323
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