Word: tax-exempt
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...October, dozens of city residents were filing into Cambridge Rindge and Latin School to hear city officials and community activists discuss Harvard's steady expansion into the city. Cambridge was in the throes of a regional recession, and many feared that the large tax-exempt University could devastate the city's coffers by removing newly acquired commercial properties from the tax rolls...
...report examines Harvard and MIT's voluntary payments to the city of Cambridge, which compensate for their tax-exempt property that collectively comprise "39 percent of the current value of Cambridge's taxable real estate," it says...
Under the second method, universities would be charged according to the amount of money the city loses in revenues from tax-exempt land. But in the report, Halverson argues that in the case of Cambridge, the city actually benefits from the universities' presence because the remaining property values and resulting taxes, are on average "two to three times those of other suburbs around Boston...
...agency giving Scientology the most grief is the IRS, whose officials have implied that Hubbard's successors may be looting the church's coffers. Since 1988, when the U.S. Supreme Court upheld the revocation of the cult's tax-exempt status, a massive IRS probe of church centers across the country has been under way. An IRS agent, Marcus Owens, has estimated that thousands of IRS employees have been involved. Another agent, in an internal IRS memorandum, spoke hopefully of the "ultimate disintegration" of the church. A small but helpful beacon shone last June when a federal appeals court ruled...
...Internal Revenue Service ruling in 1967 stripped Scientology's mother church of its tax-exempt status. A federal court ruled in 1971 that Hubbard's medical claims were bogus and that E-meter auditing could no longer be called a scientific treatment. Hubbard responded by going fully religious, seeking First Amendment protection for Scientology's strange rites. His counselors started sporting clerical collars. Chapels were built, franchises became "missions," fees became "fixed donations," and Hubbard's comic-book cosmology became "sacred scriptures...