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.