Sorry, you need to enable JavaScript to visit this website.

ocfo

Office of the Chief Financial Officer
 

DC Agency Top Menu

Make in-person appointments at the Recorder of Deeds Office. Learn more here.

-A +A
Bookmark and Share

2017 TY0 Repayment of PILOT Financing


Wednesday, June 22, 2016

Repayment of PILOT Financing is a program through which the District provides economic development project funds by borrowing against the future receipts from Payment-in-Lieu-of-Taxes (PILOT).

A PILOT payment on debt issued under the District’s PILOT Act equals the amount the property owner would otherwise pay in property taxes, based on the assessed value of the property. The repayment of the borrowing against this future PILOT revenue is budgeted in this program. This borrowing is similar in concept to Tax Increment Financing, in which the District borrows against future tax receipts and uses the proceeds to spur economic development.
 

Attachment(s):