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Tight State and Local Budgets May Signal Bad News for Not-for-Profits
Posted by Carole A. Budyak on Fri, Jun 19, 2015 @ 09:03 AM

Not-for-profit organizations may be called upon for additional payments and taxes as state and local governments weigh solutions for their budgets. These organizations are often exempt from paying property tax and may become targets for proposed budget solutions in part because of their collective size. In many metropolitan areas, not-for-profit organizations own a significant portion of the city’s property. Boston has roughly 50% of its property in tax-exempt hands. Estimates for New Orleans are even higher, with 67% of the city’s property exempt from taxation.

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Topics: state and local tax issues, Carole Budyak

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