PILOT
n.β Β«The companiesβincluding behemoths like JPMorgan Chase, Pfizer and NBCβhave paid a fraction of their normal property tax bill for years through these little-known deals, commonly called PILOTs (Payments in Lieu of Taxes).Β» ββDeals that lead to lost property taxes” by Juan Gonzalez New York Daily News Dec. 20, 2007. (source: Double-Tongued Dictionary)