General Payment in Lieu of Taxes (PILOT)

Also known as Building PILOT

The General PILOT is designed to compensate municipalities for municipal taxes they are unable to collect on state-owned buildings. 32 V.S.A. § 3705

The methodology to calculate the payment is as follows:

  • Convert state-owned building values to grand list (adjusted by the local common level of appraisal) to determine what an adjusted grand list would have been if such property was taxable.
  • Determine an adjusted municipal tax rate (what the tax rate would have been if such property were taxable).
  • Determine Full Pilot by multiplying adjusted municipal tax rate by adjusted municipal grand list.
  • Prorate the payment to fit available funding.

FISCAL YEAR 2019 (ESTIMATED)

The FY19 payment will be based on the value of state-owned property as of April 1, 2017. Those values were provided to the municipalities in a memorandum from Property Valuation and Review (PVR) dated May 1, 2018. The Full PILOT will be prorated by a factor of about 74%. Proration is necessary as the full PILOT statewide is over $10 M and a total of $8 M available for distribution.

The payment will be issued on or about October 31, 2018.

FISCAL YEAR 2018 (ACTUAL)

The FY18 payment is based on the value of state-owned property as of April 1, 2016.

The Full PILOT was then prorated by a factor of about 75.6%. Proration is necessary as the full PILOT statewide was over $10.0 M and a total of $7.6 M available for distribution.

The payment was issued on or about October 31, 2017.

FISCAL YEAR 2017 (ACTUAL)

The FY17 payment is based on the value of state-owned property as of April 1, 2015.

The Full PILOT was then prorated by a factor of about 74.7%. Proration is necessary as the full PILOT statewide was over $9.6 M and a total of $7.2 M available for distribution.

The payment was issued on or about October 31, 2016. 32 V.S.A. § 3706.