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Newton, Mass., wants more financial support from Boston College
Jun 30, 2008 12:00 PM
The city of Newton, Mass., wants Boston College, the largest tax- exempt institution in Newton, to contribute more toward the city's diminishing bottom line. Boston College pays Newton $100,000 a year in lieu of property taxes, plus a varying amount in contributions to local nonprofit organizations. Last year, the total paid by the college was in excess of $119,000. The payment in lieu of taxes, or PILOT, agreement is to reimburse the city for the expense of services it provides BC, and replace some of the revenue it would otherwise collect on the properties.
To read The Boston Globe article, click here.
