dang_he_groovin t1_izcfe90 wrote
Reply to comment by LordBarvis in What is the worst university in New Haven? by gr34tguy
Yeah also something 50-60% of the property value in the city is owned by yale, and is untaxable by city law. If it were taxed like anything else in the city it would come out to like 20-30 times more than what they "donate" to the city every year
tholdawa t1_izcmh70 wrote
*state law, not city law. I would point out that this is true for essentially all non-profit universities across the country. They are also, as non-profits, exempt from federal taxes.
xxqwerty98xx t1_izcrvsb wrote
Yale is not comparable to other non-profit universities (aside from Harvard, Stanford, Princeton, MIT, etc). They have the second largest endowment in the country at over $42 billion…
For context, 20-30 minutes away at Quinnipiac (where president Lahey set a record for highest-paid college president ever), the endowment is under $1 billion.
Yale has too good of a deal with the city of New Haven, and owes more to the city’s residents.
Porcupinesballs t1_izfompv wrote
Why does it owe the city anything?
ctrealestateatty t1_izcxb3o wrote
It’s exempt by state and federal law. And no, not unless you’re conflating YNHH and YU, it’s not.
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