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Schenectady County rakes in $14.2 million worth of payments in lieu of taxes

The Golub Corporation corporate headquarters on Nott Street in Schenectady Saturday
Photographer: Peter R. Barber
The Golub Corporation corporate headquarters on Nott Street in Schenectady Saturday
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Schenectady County’s local governments received nearly $14.2 million in payments this year from property owners that benefit from special agreements known as payments in lieu of taxes, or PILOTs, a 53 percent increase from $9.23 million generated in 2012.

The Schenectady Metroplex Development Authority administers the agreements, which exempt a property from assessment rolls in return for annual payments that typically increase each year. While the payments generated are less than what the owner ...

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