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PILOT tax-what is it?

Started by owenduncan
almost 18 years ago
Posts: 22
Member since: Nov 2007
Discussion about
I still need some clarity on this, can anyone shed some light
Response by will
almost 18 years ago
Posts: 480
Member since: Dec 2007

See this thread.

http://www.streeteasy.com/nyc/talk/discussion/2041-Battery_Park_Citiy_PILOT

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Response by kylewest
almost 18 years ago
Posts: 4455
Member since: Aug 2007

Related question: if coop has a land lease and not a mortgage, the building essentially pays the land owner rent every month. That is part of each shareholder's maintenance. Ordinarily, the portion of monthly maintenance that is used to pay the building's underlying mortgage is tax deductible and the shareholder gets a tax advantage. That's why coops for sale say things like: main. $1040/mo., 62% deductible. If there coop has a land lease, and not a mortgage, is there a corresponding tax benefit? Is that related to "PILOT"?

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