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Albany County agrees to 15-year PILOT with Reservoir Road Solar for 5 MW array
Summary
Legislators authorized a 15-year payment-in-lieu-of-taxes (PILOT) under Real Property Tax Law §487 with Reservoir Road Solar for a proposed 5-megawatt array; the agreement would pay $1,000 per megawatt annually with a 2% escalator.
The committee authorized a proposed 15-year pilot agreement under New York Real Property Tax Law §487 with Reservoir Road Solar for a proposed 5-megawatt solar array.
The nut graf: Under the draft agreement county staff said the project would pay $1,000 per megawatt per year (initially $5,000) with a 2% annual escalation over 15 years; staff said the first payment would occur in the year the array is commissioned, which may be 2026 or later depending on construction timing.
Director of Real Property (Michael McGuire) said he did not have a precise estimate on what the solar array would otherwise be taxed at because assessor valuation methods are in flux after a recent court decision in Schoharie County invalidated a state valuation model. McGuire told the committee that without a negotiated PILOT the developer could be 100% exempt under current law; the §487 PILOT, he said, ensures the county receives something rather than nothing.
Committee members asked about the scale of tax reduction, how the array’s value would be assessed, and the timing of payments. McGuire said he would follow up with an estimate using the previously used model but flagged that the model’s future use is unresolved due to litigation.
Ending: The committee approved authorization to negotiate the pilot. McGuire noted payment timing depends on commissioning and that school districts and other jurisdictions may choose different approaches to PILOTs.
