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Property Tax Incentives
Dickson County offers Payment in-lieu-of Taxes (PILOT) to new and expanding industries locating in Dickson County.
Payment in-lieu-of Taxes (PILOT)
Title 7, Chapter 53 Tennessee Code Annotated creates Industrial Development Corporations in the State of Tennessee for the purposes of recruiting and retaining industry to the State of Tennessee, as well as other purposes authorized in the Chapter. The Industrial Development Board of the County of Dickson, Tennessee (DCIDB) is authorized by the City of Dickson and Dickson County to offer a Payment in-lieu-of Taxes (PILOT) to new and expanding industries investing in Dickson County. This PILOT provides a seven year (7) tax abatement on real and/or personal property associated with the project. A sample of the PILOT plan is attached as EXHIBIT A.
The Board may offer a PILOT to industries based on the number of jobs created, project investment and impact on local economy. Although the DCIDB has not established strict minimums to receive a PILOT, 25 new jobs and $1,000,000 investment are considered to be a reasonable minimum necessary to receive a PILOT. The final decision as to whether or not to issue a PILOT is strictly the decision of the DCIDB.
Investments already made at the time of application in a local project will not be covered under the PILOT agreement.
The industry requesting the PILOT must complete an application to request a PILOT from the DCIDB. The DCIDB will establish a minimum number of jobs to be maintained by the industry in order to maintain the PILOT. If the industry does not maintain the minimum number of jobs required by the DCIDB during the term of the PILOT, the Board has the right to void the PILOT agreement and thus the investment covered under the PILOT agreement becomes 100% taxable. Before any action is taken by the Board to void a PILOT, the industry will be provided an opportunity to discuss the status of the project with the Board and explain why the PILOT should remain in effect.
The Industry requesting the PILOT must retain counsel to develop the necessary legal documents for receiving a PILOT. These documents must be submitted to the Counsel for the DCIDB. The applicant industry is responsible for all legal expenses incurred by the DCIDB for approving the PILOT. This includes, but is not limited to, legal document fees, attorney fees and filing fees.
The applicant is responsible for making sure the PILOT documents are legally correct under the laws of the State of Tennessee. The DCIDB does not have any legal responsibility to challenge or defend the PILOT documents.
Counsel to the DCIDB:
Joseph M. Barrett
Ramsey, Thornton, Barrett & Herbert, PLC
10200 Ramsey Way
Dickson, Tennessee 37055
(615) 740-5700 Telephone
(615) 446 -1686 Facsimile