Quote:
Originally Posted by twoplustwo
So what happens when the non-profits sell their property? No doubt they got the land at an initial low price, if it wasn't donated. So when they sell their $10 million property, what happens?
If you're the Diocese of Manchester, you build another church down the road, pocket the cash, and let Rusty McLear add to the business taxes Meredith takes in. If you're tax exempt, you're tax exempt, right? Even if you have a massive HHH windfall.
|
In many cases successful not for profits (Harvard, MIT) make payments in lieu of taxes to the cities they reside in. The non profits listed above don't seem to rise to that level!