Businesses locating or expanding in the Town of Lockport may qualify for a number of incentive programs.

Business Investment Exemption Program – under the provisions of Section 485B of the NYS Real Property Tax Law, businesses that build $10,000 or more in new construction or improvements may qualify for a partial reduction in assessment of up to 50% of the increase in assessed value resulting from the new construction or improvement, with the abatement declining over a 10-year period of time. For the Town of Lockport, qualifying businesses are exempt from County, County Special District, School (Lockport, Newfane and Starpoint School Districts) and Town Special District tax levies per the following abatement schedule (applies ONLY to the amount of increase in assessed value):