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'.
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