June 4, 2014 —
MONTICELLO, NY — The question of whether a proposed casino or two would be granted tax abatements from the Sullivan County Industrial Development Agency (IDA) seems to be an ongoing topic of discussion among Sullivan County legislators.
According to an email from Sullivan County Manager Josh Potosek to two legislators, the full value of tax abatements over 15 years for the project proposed by EPR Properties and Empire Resorts, under the IDA’s Destination Resort Program, would be about $12.3 million, assuming the “incremental assessed value” of the project is $30 million. Potesek added, however, that it’s hard to predict the incremental assessed value, which will ultimately be determined by the Town of Thompson assessor.
If the abatement is not granted, the $12.3 million would be paid in taxes to the Town of Thompson, the Monticello Central School District and Sullivan County.