Latest Breaking News On - மாசசூசெட்ஸ் நடவடிக்கை - Page 1 : comparemela.com
Dur combat entre l Ontario et le Québec pour l usine de Moderna
journaldemontreal.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from journaldemontreal.com Daily Mail and Mail on Sunday newspapers.
Nonprofit, college associations push back against Massachusetts tax proposal
bizjournals.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bizjournals.com Daily Mail and Mail on Sunday newspapers.
Wicked Local
Cambridge, Somerville and Medford advocates are organizing with legislators across the state to ensure that large nonprofits, like Harvard University and Massachusetts Institute of Technology, pay their fair share in taxes.
Locals may be familiar with the term PILOT (Payment in Lieu of Taxes), which calls for voluntary contributions by large nonprofits in exchange for not having to pay standard property taxes.
Cambridge has PILOT agreements with Harvard, MIT, Hult International Business School and Lesley University.
Right now, Harvard pays Cambridge about $4.3 million annually in PILOT, while MIT pays approximately $2.2 million, as well as other cash and non-cash community benefits.
A statewide organization hosted a town hall on Thursday in support of two bills in the Massachusetts House to reform Payment in Lieu of Taxes programs.
Massachusetts Action for PILOT, a coalition of local advocacy groups focused on reforming PILOT, invited elected officials and residents to discuss H. 3080 and H.D. 2068, the two bills intended to reform PILOT.
Inspired by Boston’s current program, H. 3080 would create a local option for municipalities to adopt and enforce PILOT payments in which privately held non-profits with more than $15 million in land such as Harvard would be required to contribute 25 percent of the property taxes they are currently exempt from.
Wicked Local
Somerville and Medford advocates are organizing with legislators and residents across the state to ensure that large nonprofits pay their fair share in taxes.
Locals may be familiar with the term PILOT, which stands for payment in lieu of taxes, as Somerville and Medford have negotiated for a PILOT with Tufts University, which some residents don’t believe goes far enough.
Right now, Tufts pays $450,000 each to the cities of Somerville and Medford as well as other cash and non-cash community benefits. If Tufts paid the equivalent residential property tax that all other residents pay, Tufts would owe $4.2 million dollars to just Somerville.
vimarsana © 2020. All Rights Reserved.