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TeachMeFinance.com - explain Payments in lieu of taxes (PILT) Payments in lieu of taxes (PILT) The term 'Payments in lieu of taxes (PILT) ' as it applies to the area of agriculture can be defined as ' A program administered by the Bureau of Land Management of the Department of the Interior to compensate counties for the tax-exempt status of federal lands; the fixed payments per entitlement acre (on most but not all federal lands) are adjusted for low county populations and for other revenue-sharing payments (e.g., Forest Service county payments) in a complicated formula'. Previous 5 Terms: Payment method for utilities Payment quantity Payment Rate Payment Safeguards Payment-in-kind (PIK) Next 5 Terms: Payroll Taxes PBIS PBL PBR PC About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.