Word: taxed
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Aimed to dispel notions that tax-exempt universities displace neighborhoods and deprive cities of their rightful property tax revenue, the report emphasizes the universities’ steady growth even in times of economic recession...
Bringing these assets into the formal sector would also automatically multiply both recorded GDP and tax revenues. In developing nations, the informal assets of the poor dwarf the valuations of domestic stock exchanges, government assets, and foreign direct investment by large multiples. Turning these assets into capital would unleash new potential for surging exponential growth...
...effort to dispel the idea that tax-exempt, land-eating universities rob towns of their rightful revenue, Harvard and seven other area schools will release a report today declaring that Boston-area research universities pump more than 7.4 billion dollars into the regional economy each year...
...University maintains its tax-exempt status on land holdings that would otherwise generate $35 million in tax revenues per year...
...understand that Harvard provides the city with other economic benefits besides this tax money, but they could clearly contribute more than they have in the past,” he said...