During the recent Select Board meeting on November 4, 2024, the Town of Concord discussed a new Payment in Lieu of Taxes (PILOT) policy aimed at addressing the financial impact of non-taxable land in the community. Concord, which spans approximately 26 square miles, has 89% of its land taxable, while 11% is classified as non-taxable. This non-taxable land includes properties owned by the town, state government, and exempt nonprofits.

The meeting highlighted that the total value of the non-taxable properties amounts to approximately $487 million. If these properties were taxed at the standard rate, they would contribute nearly $6 million to the town's budget. However, due to their exempt status, this revenue is not realized.

The proposed PILOT policy seeks to capture 25% of the potential tax revenue from these nonprofits, aligning with practices in other Massachusetts communities such as Boston and Brookline. This percentage reflects the benefits that nonprofits receive from public services, including public safety and public works, which are funded by taxpayer dollars.

The Select Board emphasized that the PILOT program is voluntary and negotiable, allowing for discussions with nonprofit organizations about their contributions to the town's financial health. This initiative aims to create a more equitable financial landscape in Concord, ensuring that all entities contribute fairly to the community's resources.

As Concord moves forward with this policy, it is expected to enhance the town's budget and support essential services, benefiting all residents. The Select Board will continue to engage with stakeholders to finalize the details of the PILOT program and its implementation.