Word: exempted
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Harvard’s wealth and sizable endowment have often generated considerable resentment among city residents and politicians, who say that since Harvard’s property is largely tax-exempt, the University benefits from Cambridge’s public services without giving adequately in return...
Last year Harvard paid the city $4.5 million for its taxable properties as well as a voluntary $1.7 million payment in lieu of taxes—(PILOT)—to compensate for its tax-exempt property...
...month after the city reached its first formal PILOT agreement with MIT. MIT increased its voluntary payment to $1.5 million with a 2.5 percent annual increase for the next 40 years. MIT also agreed to restrict the amount of its commercial property that can be converted to tax-exempt...
...Money should not be the issue. We provide all kinds of services to Harvard’s tax-exempt property and there’s a cost,” Galluccio says. “If we could have an intelligent conversation with folks about the subject, there would not be an ongoing debate...
...even University President Lawrence H. Summers was exempt from Russert’s satirical scrutinizing lens. Referring to Summers’ controversial remarks on women in science earlier this year, Russert even added after one anecdote that Summers must now appreciate that “women are not only good at math, they have a good sense of humor...