Philmont was incorporated in 1892. The community was also known as "Factory Hill" due to the number of wool factories.

Philmont is part of Columbia County, which covers 643 square miles, about 20 miles from the east bank of the Hudson River to the Massachusetts border. Philmont and the surrounding areas are agriculturally based with beautiful mountainous landscapes.

The area was first settled by the Dutch in the mid-17th century.

Like so many other mill towns in the Northeast, Philmont went through a long period of recovery as mills and textile operations moved out of the area. The exodus of manufacturers is the main reason that so much of the architectural heritage of the area still presides.

Today, Philmont is a growing village and is fast becoming a popular destination with its proximity to Hudson, New York City, the Berkshires, and the Adirondacks. Philmont is also an attractive place for new residents and businesses because of its small town charm, geographic proximity and economic revitalization.