Word: tax-exempt
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...state commissions will this fall begin investigating the possibility of subsidies to municipalities such as Cambridge which have a large population of tax-exempt educational institutions, but a top city official is pessimistic about the chances that the proposal will ever be adopted...
Harvard and MIT own the bulk of the 52 percent of Cambridge land that is tax-exempt, Healy said. The two institutions annually make approximately $1 million in-lieu-of-tax payments to the city, he added. Healy was unable to specify the exact value of the land the universities...
Connecticut adopted a similar law in 1978 which reimburses municipalities for 25 percent of any revenue lost because of tax-exempt higher educational medical property...
They could have set next year's state allocation of student aid. They could have drawn up a plan to bolster the quality of secondary school education. They could have settled once and for all the sticky problem of universities and their tax-exempt status...
Defaults on tax-exempt municipal bonds like those issued on Whoops have been relatively infrequent and have usually involved smallish sums. Only 685 defaults have occurred since 1940, out of 301,016 municipal bond issues. In terms of money lost, each of the three largest were around one-twentieth the size of last week's fizzle. The West Virginia Turnpike Commission defaulted on $133 million in bonds in 1958. Chicago's Calumet Skyway collapsed under bond indebtedness of $101 million in 1963, and investors were short-changed in 1978 when the Chesapeake Bay Bridge and Tunnel Commission reneged...