Manufacturing, industrial, and not-for-profit companies may receive property tax incentives through agreements with government agencies. The two agencies that issue these agreements are NYC Industrial Development Agency (IDA) and NYC Economic Development Corporation (EDC). Through these agreements, properties are exempt from property taxes and instead make a Payment in Lieu of Taxes (PILOT).
The Department of Finance (DOF) calculates, bills and collects most PILOT payments.
For program information and eligibility, contact the NYC Department of Economic Development and NYC Industrial Development Agency.