Private colleges, nonprofit hospitals, museums, soup kitchens and churches are exempt from property taxes. As cash-strapped host municipalities look for more revenue, their interest in collecting payments in lieu of taxes (PILOTs) from charitable nonprofit organizations will grow, according to a report by the Cambridge, Mass.-based Lincoln Institute of Land Policy.
In recent years, many cities ...
Private colleges, nonprofit hospitals, museums, soup kitchens and churches are exempt from property taxes. As cash-strapped host municipalities look for more revenue, their interest in collecting payments in lieu of taxes (PILOTs) from charitable nonprofit organizations will grow, according to a report by the Cambridge, Mass.-based Lincoln Institute of Land Policy.
In recent years, many cities ...