Boston PILOT Task Force report released

Mayor Menino's PILOT Task Force released its report today with suggested changes to Boston's Payment In Lieu of Taxes program that asks non-profit institutions in Boston to make voluntary payments.

Harvard contributes approximately $2M annually and Boston College $300,000, based on property valued at $1.5 billion and $560,000 respectively (5% and 2% of what they would pay if the property was taxable). BU and Berklee top that list by paying 8+% and Northeastern barely "contributes" anything ($30,000 PILOT for $1.3B of property).

The Task Force recommends that all non-profits make PILOT contributions of 25% of their property's taxable value, with 50% of this being paid in cash and 50% being in the form of community services.

Time will tell how close to this goal the City will get, but it certainly would be a different situation if Harvard contributed 5 times as much as it does now, with this year's $2M cash increasing to $5M cash and accompanied by $5M in service.

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