Author: Richard D. Pomp
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Book Description
All states grant a property tax exemption to certain non-profit organizations. Tax-exempt property further erodes many cities' tax bases. Connecticut has recently adopted legislation in an attempt to solve this problem. This legislation, proposed by Professor Richard D. Pomp, provides municipalities with state subsidies for property taxes lost due to tax-exempt hospitals and colleges.This article is the reprinted testimony of Professor Pomp before the Connecticut State Finance Committee. Professor Pomp outlines the proliferation of tax-exempt property in Connecticut, which contributes to forgone revenue for major cities. Tax-exempt property not only results in diminished tax revenue, but also imposes additional costs on cities. Professor Pomp further explains that tax-exempt organizations provide no greater net economic impact than businesses that pay the property tax. Professor Pomp analyzes three relevant questions that must be asked when considering alternatives to the current system. He concludes by proposing seven alternative options: (1) municipal permission before any taxable property can be purchased by a tax-exempt organization, (2) phase in the exemption whenever taxable property is bought by a tax-exempt organization, (3) phase out the exemption after a certain period, (4) limit the number of acres qualifying for the exemption, (5) set a dollar limit on the amount of property that can be exempt, (6) impose a user charge, or (7) state payments to jurisdictions containing tax-exempt property in excess of the state average.
Tax Exempt Property and the Cities
Author: Richard D. Pomp
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Book Description
All states grant a property tax exemption to certain non-profit organizations. Tax-exempt property further erodes many cities' tax bases. Connecticut has recently adopted legislation in an attempt to solve this problem. This legislation, proposed by Professor Richard D. Pomp, provides municipalities with state subsidies for property taxes lost due to tax-exempt hospitals and colleges.This article is the reprinted testimony of Professor Pomp before the Connecticut State Finance Committee. Professor Pomp outlines the proliferation of tax-exempt property in Connecticut, which contributes to forgone revenue for major cities. Tax-exempt property not only results in diminished tax revenue, but also imposes additional costs on cities. Professor Pomp further explains that tax-exempt organizations provide no greater net economic impact than businesses that pay the property tax. Professor Pomp analyzes three relevant questions that must be asked when considering alternatives to the current system. He concludes by proposing seven alternative options: (1) municipal permission before any taxable property can be purchased by a tax-exempt organization, (2) phase in the exemption whenever taxable property is bought by a tax-exempt organization, (3) phase out the exemption after a certain period, (4) limit the number of acres qualifying for the exemption, (5) set a dollar limit on the amount of property that can be exempt, (6) impose a user charge, or (7) state payments to jurisdictions containing tax-exempt property in excess of the state average.
Publisher:
ISBN:
Category :
Languages : en
Pages : 12
Book Description
All states grant a property tax exemption to certain non-profit organizations. Tax-exempt property further erodes many cities' tax bases. Connecticut has recently adopted legislation in an attempt to solve this problem. This legislation, proposed by Professor Richard D. Pomp, provides municipalities with state subsidies for property taxes lost due to tax-exempt hospitals and colleges.This article is the reprinted testimony of Professor Pomp before the Connecticut State Finance Committee. Professor Pomp outlines the proliferation of tax-exempt property in Connecticut, which contributes to forgone revenue for major cities. Tax-exempt property not only results in diminished tax revenue, but also imposes additional costs on cities. Professor Pomp further explains that tax-exempt organizations provide no greater net economic impact than businesses that pay the property tax. Professor Pomp analyzes three relevant questions that must be asked when considering alternatives to the current system. He concludes by proposing seven alternative options: (1) municipal permission before any taxable property can be purchased by a tax-exempt organization, (2) phase in the exemption whenever taxable property is bought by a tax-exempt organization, (3) phase out the exemption after a certain period, (4) limit the number of acres qualifying for the exemption, (5) set a dollar limit on the amount of property that can be exempt, (6) impose a user charge, or (7) state payments to jurisdictions containing tax-exempt property in excess of the state average.
Real Estate Tax Exemption in New York City
Author: Citizens Budget Commission (New York, N.Y.)
Publisher:
ISBN:
Category : NYC
Languages : en
Pages : 88
Book Description
Publisher:
ISBN:
Category : NYC
Languages : en
Pages : 88
Book Description
Property Tax Exemptions in Connecticut Towns and Cities
Author: University of Connecticut. Institute of Public Service
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
Book Description
Publisher:
ISBN:
Category :
Languages : en
Pages : 60
Book Description
Tax Exemptions on Real Estate
Author: Philip Adler
Publisher:
ISBN:
Category : Real property
Languages : en
Pages : 122
Book Description
Publisher:
ISBN:
Category : Real property
Languages : en
Pages : 122
Book Description
Tax Exempt Property in Cities of the Third Class
Quadrennial Statement to the General Assembly of Property Exempted from Taxation
Author: Connecticut. Tax Department
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 48
Book Description
Publisher:
ISBN:
Category : Property tax
Languages : en
Pages : 48
Book Description
A Study of Real Estate Tax Exemption in the City of New York
Author: Walter J. Klink
Publisher:
ISBN:
Category : Real property tax
Languages : en
Pages : 218
Book Description
Publisher:
ISBN:
Category : Real property tax
Languages : en
Pages : 218
Book Description
Property-tax Exemption for Charities
Author: Evelyn Brody
Publisher: The Urban Insitute
ISBN: 9780877667063
Category : Business & Economics
Languages : en
Pages : 440
Book Description
Contributors in municipal studies, law, and philanthropic studies discuss property-tax exemption for charities and how public perception on property-owning charities differs from reality. They survey the legal and political landscape of property-tax exemption for nonprofit organizations, examine the development of the current structure of nonprofit property-tax exemption and its legal rationales, and assess mechanisms adopted by local municipalities to offset some of the revenue lost because of exempt properties. Material originated at the December 1997 26th Annual Conference of the Association for Research on Nonprofit Organizations and Voluntary Action. Annotation copyrighted by Book News, Inc., Portland, OR.
Publisher: The Urban Insitute
ISBN: 9780877667063
Category : Business & Economics
Languages : en
Pages : 440
Book Description
Contributors in municipal studies, law, and philanthropic studies discuss property-tax exemption for charities and how public perception on property-owning charities differs from reality. They survey the legal and political landscape of property-tax exemption for nonprofit organizations, examine the development of the current structure of nonprofit property-tax exemption and its legal rationales, and assess mechanisms adopted by local municipalities to offset some of the revenue lost because of exempt properties. Material originated at the December 1997 26th Annual Conference of the Association for Research on Nonprofit Organizations and Voluntary Action. Annotation copyrighted by Book News, Inc., Portland, OR.
Exemption of Personal Property
Author: Joseph S. Schwab
Publisher:
ISBN:
Category : Tax exemption
Languages : en
Pages : 20
Book Description
Publisher:
ISBN:
Category : Tax exemption
Languages : en
Pages : 20
Book Description
The Free List
Author: Alfred Balk
Publisher: Russell Sage Foundation
ISBN: 9781610445818
Category : Business & Economics
Languages : en
Pages : 288
Book Description
A recent Supreme Court decision confirmed the churches' right to tax exemption for religious property. In this highly relevant book, Alfred Balk places this question in social perspective and demonstrates how tax exemption and immunity affect the fiscal load of local communities and the well-being of our whole society. Among the "free list" or tax-free properties which the author examines are churches, hospitals, schools, and government buildings. Seven specific proposals for reform are set forth.
Publisher: Russell Sage Foundation
ISBN: 9781610445818
Category : Business & Economics
Languages : en
Pages : 288
Book Description
A recent Supreme Court decision confirmed the churches' right to tax exemption for religious property. In this highly relevant book, Alfred Balk places this question in social perspective and demonstrates how tax exemption and immunity affect the fiscal load of local communities and the well-being of our whole society. Among the "free list" or tax-free properties which the author examines are churches, hospitals, schools, and government buildings. Seven specific proposals for reform are set forth.