Word: tax-exempt
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Cambridge City Councilor Kevin P. Crane '73 said last night he will propose a bill in the state legislature to provide cities with state compensation for property taxes not collected from tax-exempt institutions...
...know how this would assist Cambridge with its substantial college holdings," Crane said, nothing that 52 per cent of all land in Cambridge is owned by hospitals or institutions of higher learning. Harvard is the principal tax-exempt landowner in Cambridge...
Crane said the legislation he plans to introduce is based on a law passed in Connecticut last year. That law stipulates that the state must give communities with tax-exempt institutions 25 per cent of what the city would receive if those institutions were taxed at normal rates...
...billion in cash stashed away for rainy days. If consumers could be persuaded to convert that cash to traveler's checks, it would substantially increase the float. American Express's float totals about $2 billion at any moment; the company invests this money, mainly in long-term tax-exempt securities, and pockets the income...
Fair Share will modify the emphasis of its campaign against Harvard by trying to attract more allies. This, they believe, is possible now that more individuals have become curious about the role of tax-exempt institutions since Proposition 13 and similar "tax revolts" began to stimulate a greater community interest in lowering taxes...