Wednesday, April 27, 2011

Emanuel hints non-profits could be stripped of property tax exemptions - Chicago Sun-Times

Emanuel hints non-profits could be stripped of property tax exemptions - Chicago Sun-Times

A good time to have unloaded Meadville Lombard's properties I guess.

“There’s a lot of good non-profits and charitables. But they get a benefit on the tax side. And given the changes I’ve got to make and given the sacrifices I’m gonna ask from everybody, nobody is in a sacrifice-free zone,” Emanuel said.

2 comments:

Paul Oakley said...

Of course, renters pay property tax too. The bill just doesn't come with their name on it.

That aside, though, the justification for exempting non-profits from paying real-estate tax is that they provide to the community where they are located benefits that exceed their economic transactions as employer and as purchaser or goods and services.

A seminary - especially one serving a tiny denomination, most of whose students are in Chicago for no more than a month each year, and most of whose alumni are serving outside of Chicagoland - would be hard pressed to show the benefit to the tax community that in some way exceeds that of an ordinary commercial employer of the same size.

In short, it's surprising that we've managed to hang on to the real-estate-tax exemption this long.

Bill Baar said...

Wonder what the bill would be for first Church kiddy corner.