Real Property Recycling Tax Abatements

Real Property Recycling Tax Abatements Qualifying businesses can receive a partial abatement of up to 50% of the tax due on real property over a maximum of 10 years. Requirements to Qualify ■ Must meet the ‘Standard Abatement’ requirements for an Urban or Rural location. ■ The Business o Engages in the primary trade of or otherwise processing raw material or an intermediate product through a process in which at least 50 percent of the material or product is recycled on-site; o Includes as a primary component a facility for the generation of electricity from recycled material or a facility for the production of biofuels, biomass or other primary fuels from recycled material to produce energy; or o Primarily engages in the recycling or repurposing of materials that were used to produce or store renewable limitation, materials used in solar panels or waste materials resulting from the extraction of minerals; In addition: ■ The Office finds that the business has as a primary purpose the conservation of energy the substitution of other sources of energy for fossil sources of energy or the advancement of the environmental sustainability and energy goals of this State; ■ Indicate on the application the company’s plan to fulfill workforce needs.