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IDA Summary
THE MISSION of the IDA is to retain the present industrial tax base in Putnam
County and help attract clean, environmentally sensitive manufacturing and
industrial interests to the County.
The IDA has a wide range of incentives to offer qualified businesses and
industrial or manufacturing concerns. Please contact the Putnam Industrial
Development Agency directly for information about your particular business.
- REAL PROPERTY TAX ABATEMENTS - The IDA
offers a “485-b” property tax abatement for qualified projects. This incentive
allows the owner of a qualified industrial or manufacturing business to have a
“scaled in” assessment on their property taxes over a ten-year period.
- SALES TAX EXEMPTIONS - Any equipment or
materials bought in conjunction with an approved project shall be exempt from
the current sales tax of 7 1/4%.
- MORTGAGE RECORDING TAX EXEMPTION - The
mortgage tax normally applicable to deed transfers will be excluded on an
approved and qualified IDA project. The current amount of tax is 1.05%.
- TAX EXEMPT BONDS - For industrial or
manufacturing concerns, the IDA offers financing through tax exempt Industrial
Revenue Bonds. The bonds have a lower interest rate than traditional mortgage
or loans.
The IDA also coordinates with county and state
agencies to offer job-training and other incentives to induce companies to
locate in Putnam County.
Download the Putnam County Industrial Development
Agency Applications. (Available in PDF format)
SUMMARY
The Putnam County Industrial Development Agency was formed in August 1995.
Its goals are to retain the present industrial tax base and to attract
appropriate new businesses.
It has the capability to offer incentives and issue tax-exempt bonds.
Its members are appointed by the County Legislature.
Putnam County Industrial
Development Agency
34 Gleneida Avenue
Carmel, NY 10512
Phone: (845) 228-8066
Fax: (845) 225-0311
putnamida@comcast.net
To view the Putnam County
Industrial Agency's 2005 Financial Statements in PDF format
PLEASE CLICK HERE
To view the Putnam County
Industrial Agency's 2006 Financial Statements in PDF format
PLEASE CLICK HERE
To view the Putnam County Industrial Agency's 2007 Proposed Budget in PDF format
PLEASE CLICK HERE |
