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Taxes & Incentives

Economic Success Starts Here

Taxes & Incentives

Economic Success Starts Here

In Franklin County, you can count on low tax rates for your business or residence. Here, you’ll find a host of business incentives and a team ready to provide support at every turn. Franklin County, NY tax incentives are designed to increase employment, improve and develop our county, and bring new business to the region. The IDA is Franklin County’s primary economic development agency, a public benefit corporation formed under Article 18-A of the New York State General Municipal Law. It was created to promote, encourage, attract and develop job and recreational opportunities, and to facilitate economically sound business and industry in Franklin County. To accomplish this, the IDA issues bonds and provides financial assistance to private sector entities in the form of tax incentives.

  • PILOT Incentive
  • PILOT/Bond Fees
  • NYSEG Programs and Incentives
PILOT Incentive

Learn More about Payments In-lieu of Taxes (PILOTs)

What is a PILOT?
PILOT payments are Payments-In-Lieu of Taxes. They are not taxes. Instead, a company makes payments to affected taxing jurisdictions (e.g. Franklin County, a village or town, and a school system) on an agreed-upon schedule, after which they pay taxes on the full assessed value of their project. This lowers the expense for a company in their startup or expansion phase, but provides for long term revenue to the taxing jurisdictions in exchange for the investment and job creation.

How does a PILOT work with other tax exemptions?
A PILOT is part of the IDA Uniform Tax Exemption Policy (pdf) which provides exemption from real property taxes, mortgage recording tax and sales tax. These are substantial expense items, and to qualify as exempt from payment may assure the feasibility of the project.

What does a PILOT cost?
There are two primary expense items to obtain a PILOT and other tax exemptions, and these are Legal Fees and Agency Fees. Legal fees are quoted on a case-by-case basis since no two projects are exactly the same. Agency Fees, though, are the same for everyone.

Click here for an overview of IDA Bond/PILOT Information.

PILOT/Bond Fees

Get Information about Fees

  • Application Fee: $500
  • Straight Lease: 1.0%
  • Bonding: 1.0%
  • Refinancing existing bonds: 0.50% (Applies to amount outstanding and refinanced existing IDA or CDC bonds)
NYSEG Programs and Incentives

New York State Electric & Gas Programs

Energy in Northeastern Franklin County is supplied by NYSEG. New and existing business customers are encouraged to check what rate discounts and funding assistance is available to assist their business goals. The NYSEG Commercial & Industrial Rebate Program delivers energy efficiency options in two key ways:

  1. Prescriptive rebates for a broad range of specific, predetermined measures.
  2. Custom rebates for projects that require site-specific assessment and cost analysis, and are not eligible for any prescriptive rebates.

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