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Tax Abatement Compliance

Steuben County EDC (SCEDC) annually stays actively involved with numerous businesses who have both Real and Personal Property Tax Abatements on file. Tax abatements are traditionally given as a tax incentive to help companies expand and as an attraction for new company growth. SCEDC, along with each municipality and county officials, monitor over 60 active tax abatements in Steuben County.

SCEDC partners with each business each year to help collect, prepare, report, and present the required information to the governor bodies of the approving jurisdiction. On May 15th of each year, the forms listed below are due to the County Assessor. At this time, they must also be approved by the local governing body.

Process:

1)            If your tax abatement was approved by the City of Angola or towns of Ashley, Fremont, Hamilton, Hudson or Orland, the Compliance with Statement of Benefits Form(s) must first be approved by those Councils before being attached to your application for deduction.

2)            Form 322 /ER and Form 322 / VBD (Application for Deduction for Real Estate Improvements and Application for Deduction for Eligible Vacant Buildings) only needs to be filed in the initial year.  However, the Compliance with Statement of Benefits Form (Form CF-1 / RE) needs to be filed and approved each year by the local designating body (city, town or county council).

3)            Form 103 / ERA (Application for Deduction from Assessed Valuation for Tangible Business Personal Property) must be attached each year to the company’s Form 103 (Tangible Business Personal Property Tax Return) with the CF-1 Form / PP approved by the city, town or county council.

Working together, we can assure the process runs smoothly for the company, the local community, and the Steuben County Assessor’s Office.