Word: exemptible
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Dates: during 1970-1979
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Cambridge City Councilor Kevin P. Crane '73 said last night he will propose a bill in the state legislature to provide cities with state compensation for property taxes not collected from tax-exempt institutions...
...cash stashed away for rainy days. If consumers could be persuaded to convert that cash to traveler's checks, it would substantially increase the float. American Express's float totals about $2 billion at any moment; the company invests this money, mainly in long-term tax-exempt securities, and pockets the income...
Harvard owns over 7 million square feet of property in Boston, including the Medical and Dental Schools and some residential housing. Fair Share estimates the tax value at $16 million, but non-profit institutions are legally exempt from property taxes except in the case of the residential holdings...
Fair Share says the requested payment represents 20 per cent of what Harvard would owe the city were it not tax exempt...
Fair Share will modify the emphasis of its campaign against Harvard by trying to attract more allies. This, they believe, is possible now that more individuals have become curious about the role of tax-exempt institutions since Proposition 13 and similar "tax revolts" began to stimulate a greater community interest in lowering taxes...