Word: tax-exempt
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Vellucci said yesterday he was concerned with the "erosion" of the city's tax base caused by the University's conversion of taxable holdings into tax-exempt property...
...University agrees to Vellucci's proposal, it would have to increase its payments in lieu of taxes to the city when it did make buildings tax-exempt...
Bates is especially proud that the library is now a tax-exempt foundation called the "Harvard Library in New York," which has raised more than $6000 in its one month of existence...
...which already requires tax-exempt schools to advertise their absence of racial discrimination, the new plan had seemed a logical next step. In Louisiana and Mississippi, courts have halted state aid to discriminatory schools but have left their federal tax exemptions intact; the new procedure would allow the IRS to lift those exemptions. Says IRS Commissioner Jerome Kurtz: "Existing procedures have permitted some schools to obtain tax-exempt status by having 'paper policies' of nondiscrimination, while in fact continuing to operate in a racially discriminatory manner." U.S. Civil Rights Commission Chairman Arthur Flemming supported Kurtz at last week...
...deemed discriminatory, schools would lose their tax-exempt status...