Word: taxed
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When Harvard buys property and takes it off the tax rolls, the PILOT compensation is based on the real estate tax from when it is purchased, and does not adjust based on inflation, Decker said...
Decker also called for a closer look at how the tax-exempt buildings are used and whether for-profit activities are taking place—which Mayor Michael A. Sullivan agreed has been an “ongoing issue...
Power said she did not know of any for-profit enterprises in tax-exempt properties...
...order asks city manager Robert W. Healy to report on which properties owned by local universities are tax-exempt, how tax-exempt status is determined, and how much the city would receive if the properties had remained on the tax rolls...
Harvard makes a voluntary payment in lieu of taxes (PILOT) that is currently $1.5 million annually. The University pays an additional $4.3 million in taxes every year for the land it owns that is not tax-exempt. The Massachusetts Institute of Technology (MIT) has a similar PILOT agreement...