Tax Abatements, Exemptions & Deferrals

For more information on any program, contact EDC Warren County at 518.761.6007.

Sales Leaseback Agreements – Payment in Lieu of Taxes (PILOT) Program
Eligible Entity: Small to large-sized business qualifying under one of two local IDA guidelines: Warren Washington Counties IDA (WWIDA); or City of Glens Falls IDA (GFIDA)
Details:  The following benefits are available to companies who enter a Sales Leaseback Agreement:

• Real Property Tax Abatement – Abatement of the real property tax for a designated period of time
• New York Sales Tax Exemption – Sales tax exemptions on the purchases and costs associated with creating/retaining jobs.
• Mortgage Recording Tax Exemption – Warren County’s 1 ¼% recording tax is waived.

New York State 485 (b)
Eligible Entity:  Commercial property owner, investor, private company that has made real property improvements
Details:  485 (b) – Authorizes a partial exemption from real property taxation for commercial, business or industrial property constructed, altered, installed or improved. Ordinary maintenance and repairs do not qualify for exemption.  The application for exemption is filed with the Town assessor and before the appropriate taxable status date.

Foreign Trade Zone
Eligible Entity: Any qualifying business located within the Foreign Trade Zone (FTZ #121) covering a ten county region which includes Warren County.
Details:  Foreign merchandise may enter a Foreign-Trade Zone without a formal Customs entry or the payment of Customs duties or government excise taxes. If the final product is exported, no U.S. Customs duties or excise taxes are levied. If the final product is imported into the United States, Customs duties and excise taxes are due only at the time of transfer from the FTZ. If authorization has been granted, the duties paid are the lower of those applicable to the final product itself or its component parts (inverted tariff option).