Tax-exempt homes for millionaires
Day 3 of the NYT’s series on the expansion of exemptions from government regulation and taxation for faith-based organizations.
Members of the St. Joseph County Property Tax Assessment Board of Appeals, all but one of them lifelong Catholics, see it differently. To them, a charitable ministry does not consist of providing lovely retirement living to affluent people. The current residents of Holy Cross Village have an average net worth of $1 million. Those with deposits on the units under construction are even better off, averaging $1.6 million.
If Holy Cross Village is not taxed, members of the assessment board point out, a heavier burden will fall on the working families in the county that are struggling to pay the taxes on their small homes in careworn communities like the west side of South Bend.
Link.
thoughtsignals » Big tax breaks for churches Said,
October 11, 2006 @ 9:54 pm
[...] My previous posts on this here, here and here. [...]