RBC | Since 1977 the federal government has compensated local governments that contain non-taxable federal lands within their boundaries as a way to make up for lost property taxes on those acres under the Payments in Lieu of Taxes (PILT) program.
Fifty-six local governments in Colorado will receive a total of $40.1 million in 2018, marking the largest amount ever allocated in the program’s history. Rio Blanco County’s share for 2018 is $569,036.
The formula…