Word: tax-exempt
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Assistant City Manager David Vickery said the bill, sent to the State House last month by the City Council, would prevent institutions from buying property and then converting it from taxable housing property to tax-exempt "educational uses." "It is getting a little bit ridiculous," Vickery said, adding "a lot of property is being taken off the tax rolls...
Funding for summer programs at prep schools is very restricted and government programs do not provide grants. "A charitable, tax-exempt institution can reach many students on a permanent basis," he said...
Cephas said he has pledges from "several wealthy individuals" who will donate once the fund is tax-exempt next summer, and that he hopes to get grants from several major foundations. On April 21 he will hold a fund-raising party "aimed primarily at the Harvard community," he said
...Medical Area Services Organization (MASCO), which is owned in part by Harvard, "asked us to figure out a way to show the positive economic and financial aspects of these hospitals, as it would have a salutary effect on easing the long run discussions about tax-exempt property in the city." James E. Howell, a senior vice president of the First National Bank of Boston, which performed the study, said...
Michael E. Stone, an associate professor at UMass in Boston, said yesterday that the resources to pay for the $250 million in hospital jobs comes from medical payments, medical insurance premiums, and taxes paid by the people of the city of Boston. He added that because the hospitals are tax-exempt, but also receive city services, "home owners ultimately end up paying for the city services to these institutions...