Word: exemption
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...their psyches has become less a genteel academic pastime than an extreme sport in which sneakermakers, brewers and car manufacturers scramble for market share. Politicians trolling for votes, churches seeking converts, military services recruiting soldiers, moviemakers looking for viewers and magazines for readers: hardly a sliver of society is exempt from the need to understand and, indeed, cater to this generation. Yet Gen X has proved irritatingly contrarian. "The soul of Gen X is amorphous, intangible, elusive," says Richard Thau, 32, who heads the civic group Third Millennium. "That's why I like the term X: fill in the blanks...
...researching a drug for a major pharmaceutical company, is that really a tax exempt activity?" he asks, referring to corporate-funded research performed on not-for-profit land...
Between taxable and exempt property lies a gray area of affiliated housing, which includes properties like Peabody Terrace where staff and students lease apartments...
These contributions cannot be quantified monetarily, but University officials say they more than make up for any losses to the city in taxes. They also note that Harvard's tax-exempt status is critical to fulfilling its mission...
Residents also express special concern about long-term development in the area, which places properties like North Hall, 51 Brattle St. and 8 Story St. under the protective mantle of the University's tax exempt status, increasing the burden on area residents...