Federal Government Announces PILT Payments to New Mexico Counties

NEW MEXICO COUNTIES ARE ABOUT TO GET A CASH INFUSION FROM THE FEDERAL GOVERNMENT. DARRELL MOODY HAS THE DETAILS…

FOR FISCAL YEAR 2018 NEW MEXICO…WILLL RECEIVE MORE THAN 42-POINT 6-MILLION DOLLARS THROUGH THE FEDERAL GOVERNMENT’S PAYMENT IN LIEU OF TAXES OR “PILT” PROGRAM. PILT PROVIDES FEDERAL PAYMENTS TO LOCAL GOVERNMENTS TO HELP OFFSET LOSSES IN PROPERTY TAXES BECAUSE OF NONTAXABLE FEDERAL WITHIN THEIR JURISDICTIONS. CHAVES COUNTY WILL GET 3-POINT 2-MILLION DOLLARS WHILE EDDY COUNTY IS SET TO RECEIVE CLOSE TO 3-POINT 6-MILLION.