PILOT in Gulfport

 
Q: What is "PILOT"?

A: PILOT, or “payments in lieu of taxes”, refers to money that enterprise funds pay to the city instead of taxes. For example, an enterprise fund such as the Gulfport Municipal Marina, instead of paying property taxes, would make a payment based on its revenue. This year the marina is making PILOT of $300,000.
 So what’s an enterprise fund? The simplest way to explain it would be to call it a government-run business, but that’s not entirely accurate. An enterprise fund is a government department, such as the marina, that supports itself entirely on the money it makes from the service it provides. Enterprise funds take no money from the city’s general fund, or property taxes. Gulfport has three enterprise funds: the marina, utilities and sanitation.

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