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