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Staff: PILOT ends, parcel will return to tax rolls Jan. 1, 2026
Summary
Staff told the Troup County authorities that the payment-in-lieu-of-taxes (PILOT) associated with the 2018 bond-lease will cease when deeds are recorded and the property will return to the tax rolls effective Jan. 1, 2026; the transcript does not disclose the exact PILOT amount.
During the special called meeting, Staff member (Speaker 3) said the pilot payment that applied while the property was owned by the authority will stop and that the parcel will go back on the tax rolls once deeds are executed and recorded. "Of course the pilot will stop and the property will go back on the tax rolls once the deeds are executed and recorded to take effect on January 1 of 20 26," Staff member (Speaker 3) said.
Staff also noted the original arrangement produced a tax benefit during the bond period and referenced a seven-year benefit; the transcript includes an uncertain reference to a "10%" figure but does not record a definitive PILOT dollar amount or formula. The board accepted the resolution authorizing the transfer; staff will record deeds and coordinate with the tax assessor to update assessment records for the 2026 tax year.
