Make good?
Boston Mayor Thomas Menino wants Boston College to pay the city the $424,000 it will lose in taxes if the college converts a high-rise apartment complex to student housing. School officials say they will discuss the mayor’s request with him, but they point out that the university provides more than $5 million worth of community service to the Boston area, including volunteer efforts in local schools and nonprofit agencies.
Do you think the college, or other schools and universities, should feel obligated to compensate a city or town for the tax revenue it loses when a school project takes money off the property tax rolls?
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July 15th, 2008 @ 11:07 am
No. You would not expect a company that converts a building for another use to pay you back. I assume the college is purchasing the building, so it is theirs to use as they see fit.
July 18th, 2008 @ 4:04 pm
No - Many cities would not exist if it weren’t for the colleges and universities that are a part of the area. The jobs that the colleges provide to the area and the enormous amount of money students, faculty and staff put into the economy through sales, taxes and overall purchase power outweigh any tax loss the city would face. The city should be ashamed of demanding money from one of the city’s largest employers and economic stimulators.