<a href="http://educationinthestreets.blogspot.com">Education In The Streets</a>

Tuesday, March 16, 2004

State representative Toni Walker on taxing Yale

Yale’s tax-exempt real estate holdings in New Haven have grown by 45 percent in five years: from $715 million in 1996 to over $1 billion in 2001. It is time to examine how the university uses those tax-exempt properties.

I fully support property tax exemption for educational property. However, when a for-profit entity such as a private doctor’s office is operating out of a building that is property tax exempt, I grow concerned.

Many of the university’s buildings that are exempt from contributing property tax to the city encompass the medical and science arena. What this means is that private medical practices and corporate-sponsored biotech research falls under the tax shelter of the super exemption. Therefore, a for-profit entity that operates out of a Yale building would be property tax exempt.

When every other business and resident in New Haven is facing a third tax increase in three years, it is unfair and unrealistic to exempt these properties from taxes.

¶ 10:15 PM

Smash Yale-[ comments.]

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