, is just a tax break. Your new development would, under a normal assessment, owe $1 million per year in property tax? Claim it's for the greater good (and throw a lot of campaign contributions around) and chances are you'll get a big discount-say, $950,000 for 15 or 20 years. Given that, in a city like Baltimore, almost any development is considered to be a public good, PILOTs abound. But companies associated with John Paterakis-such as H&S Properties- get most of the breaks: Of the more than $170 million in property taxes the city is forgoing, 63 percent is going to companies associated with John Paterakis.