NYSEDC will host a webinar on “Impact of PILOTs on the 2 percent Real Property Tax Cap” on Wednesday, June 20th at 1:30pm - 3:00pm.

Since New York’s real property tax cap was enacted last year, much confusion has surrounded the issue of how IDA PILOTs impact the calculation of the tax levy for municipalities and school districts. This webinar will help clarify and explain what those impacts are. Michael N’Dolo, a Vice President with Camoin Associates, an economic development consulting firm, has done considerable research on this topic, and will present his findings, conclusions, and remedies for addressing the impacts of PILOTs on the tax cap.

The purpose of this webinar is to help inform IDA Executive Directors and their IDA Board members, and school district and local elected officials of the complex interactions between the NYS Tax Cap law and PILOT agreements.  More specifically, it is meant to dispel a number of myths while also raising awareness on how exactly a PILOT deal may or may not affect a local taxing jurisdiction.

In the public discourse and reporting by the press, there has been a tremendous level of misunderstanding about this issue.  The commentary and articles published to date have wrongly portrayed PILOT payments as having a negative effect on a community’s ability to raise its levy.  The vast majority of commentary is either factually incorrect or omits essential information.  We will show that most of what has been reported is essentially a “non-issue” and was adequately dealt with in the crafting of the Tax Cap law.  What has rarely been reported is that there is one poorly understand Tax Cap calculation that could, in a limited set of circumstances, be problematic with respect to a PILOT arrangement.

Michael N’dolo, Vice President of Camoin Associates, will discuss these matters and show a couple of case studies to illustrate the “non-issue”, show an example of the Tax Cap calculation that may cause an issue in certain circumstances, and provide advice on how to address these items with your constituents.

The fee to participate is $25.

Click here to learn more about the webinar and to register.