The General PILOT, also known as Building 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 2024
Valuation of the State-owned buildings eligible for the FY2024 PILOT program are identified in the following report for municipal review and feedback. As per 32 V.S.A. § 3704(b), municipalities have 30 days in which to appeal assessed values provided. Municipal feedback must be received by June 1. FY24 payment estimates will be made available in June based on the feedback received and the final approved Legislative appropriation. Final FY24 PILOT disbursements will be made in November 2023.
Prior Fiscal Year Year Reports (Actual)
-
FY2023 ACTUAL PILOT to Municipalities - The FY2023 PILOT was prorated by a factor of about 94.8%; $10.75M was distributed.
-
FY2022 ACTUAL PILOT to Municipalities - The FY2022 PILOT was prorated by a factor of about 86%; $9.75M was distributed.
-
FY2021 ACTUAL PILOT to Municipalities - The FY2021 PILOT was prorated by a factor of about 81%; $9.25M was distributed.
-
FY2020 ACTUAL PILOT to Municipalities - The FY2020 PILOT was prorated by a factor of about 81%;$8.7M was distributed.
-
FY2019 ACTUAL PILOT to Municipalities - The FY2019 PILOT was prorated by a factor of about 76%; $8M was distributed.
-
FY2018 ACTUAL PILOT to Municipalities - The FY2018 PILOT was prorated by a factor of about 75.6%; $7.6M was distributed.
-
FY2017 ACTUAL PILOT to Municipalities - The FY2017 PILOT was prorated by a factor of about 74.7%; $7.2M was distributed.