A new tax abatement aims to increase business along certain segments of the town.
Kings Park, NY - September 23, 2013 - Suffolk County Legislator Lynne C. Nowick attended the September meeting of the Kings Park Chamber of Commerce where Carolyn Fahey of the Suffolk County Office of Planning and Economic Development and Allyson Murray of the Smithtown Planning Department spoke about the new tax abatement program that the County recently adopted and how it affects the community.
The new targeted exemption program applies to improvements made to specific types of businesses in targeted areas of the Town. These include industrial zoned land on Old Northport Road, Middle Country Road/Route 25 and the Hauppauge Industrial Park.
These areas were selected by the Suffolk County Industrial Commercial Incentive Board, which is comprised of three representatives of the County, one person appointed by each of the 10 Town Supervisors, a representative of the villages of the County and a representative from the Nassau/Suffolk School Board Association. Local municipalities decide on what industries they want to locate in town and the increase in the property tax is phased in over 10 years. Town and Village assessors are the contact person to determine eligibility and to file for the benefits associated with Industrial Commercial Incentive Plan.
Legislator Nowick said, “Carolyn Fahey, Intergovernmental Relations Coordinator for the Suffolk County Office of Planning and Economic Development, and Allyson Murray, of Smithtown Planning Department, gave a very informative talk about the program and hopes that business owners will participate.