Word: exempt
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Dates: during 2000-2009
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While most university property in Cambridge is tax-exempt, both Harvard and MIT make a payment in lieu of taxes (PILOT) to the city each year. But with the universities combining to account for 10 percent of the city’s real estate, residents and politicians frequently call for the schools to contribute more...
...year deal signed December 3, MIT pledged to limit the conversion of its commercial property to tax-exempt use, a move that city leaders praised for easing concerns that Cambridge would lose millions in revenue if more university land were taken off the tax rolls...
...City Council has passed a resolution attempting to get Harvard to pay a larger share of property taxes. As property taxes in the city continue to rise, politicians have attacked Harvard in a populist bid to calm residents. But while it is true that Harvard’s tax exempt status saves the University millions of dollars a year, Harvard should not feel obligated to repay a debt that it does...
Though Harvard is Cambridge’s largest landowner, its non-profit status exempts the University from paying most property taxes. Under a payment-in-lieu-of-taxes (PILOT) agreement negotiated in 1990, Harvard is required to pay the city $1.7 million annually, in addition to $4.3 million in property taxes on non-tax-exempt land owned by the University...
Friday’s report recognized that economic instability over the last few years has heightened pressures on municipal and Massachusetts budgets. But “despite its tax-exempt status, Harvard helps in several ways to bolster state and local government finances,” the report said...