(Thanks EdSF and everyone) The setting I was looking for was: this.Context.IsDebuggingEnabled
<!-- Facebook Pixel Code -->
<script>
@if (!this.Context.IsDebuggingEnabled)
    {
        <text>
            !function(f,b,e,v,n,t,s)
            {if(f.fbq)return;n=f.fbq=function(){n.callMethod?
            n.callMethod.apply(n,arguments):n.queue.push(arguments)};
            if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version='2.0';
            n.queue=[];t=b.createElement(e);t.async=!0;
            t.src=v;s=b.getElementsByTagName(e)[0];
            s.parentNode.insertBefore(t,s)}(window, document,'script',
            'https://connect.facebook.net/en_US/fbevents.js');
            fbq('init', '<PixelID>');
            fbq('track', 'PageView');
        </text>
    }
</script>
<noscript>
@if (!this.Context.IsDebuggingEnabled)
    {
        <text>
            <img height="1" width="1" style="display:none"
                src="https://www.facebook.com/tr?id=<PixelID>&ev=PageView&noscript=1"/>
        </text>
    }
</noscript>
<!-- End Facebook Pixel Code -->
On localhost, I get:
    <!-- Facebook Pixel Code -->
    <script>
    </script>
    <noscript>
    </noscript>
    <!-- End Facebook Pixel Code -->
And on the server the functions are where they are supposed to be.