PILT Money Offsets Tax Losses for Counties
Written by Andrew-Rossi on June 29, 2017
County Commissioners around the state breathed a sigh of relief on Monday, when the federal government released almost five million dollars to local governments around the country.
In Wyoming, the 23 counties received a total of $28.6 million in what is known as PILT funds – Payments in Lieu of Taxes. The $464.6 million dollars that was distributed to 1900 local governments around the country is the largest amount ever allocated in the PILT program’s 40 year history.
PILT are Federal payments to local governments that help offset losses in property taxes due to non-taxable Federal lands within their boundaries. PILT payments help local governments carry out such vital services as firefighting and police protection, construction of public schools and roads, and search-and-rescue operations.
Park County Commissioner Loren Groskopf says the money has already been allocated, but they received an unexpected bonus.
Groskopf adds that the commissioners will carry forward the extra $300,000 for the budget year they are entering as of July 1.