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Madrid board adopts resolution requiring PILOT payments from renewable projects
Summary
The Madrid Town Board on March 11 adopted a resolution invoking Real Property Tax Law Section 487 to require that renewable energy generation and storage systems pay a payment in lieu of taxes (PILOT) to the town. The measure passed unanimously.
The Madrid Town Board voted March 11 to adopt a resolution requiring payment in lieu of taxes for renewable energy generation and storage systems under Real Property Tax Law Section 487.
Supervisor Kevin Finnegan presented the resolution to the board. The resolution states that renewable generation and storage systems "are required to and shall pay a payment in Lieu of Taxes (PILOT) to the Town of Madrid." Council member Emily Losey moved to adopt the resolution and Bruce Durant seconded; the motion passed with all members present voting in favor.
Board minutes show the action was formally adopted the same day and signed by Town Clerk Zoe Hawkins. The resolution cites Real Property Tax Law Section 487 as the legal basis for requiring payments from systems described in that statute; the board did not specify PILOT rates or a schedule in the minutes.
