Published by the MIT News Office at the Massachusetts Institute of Technology, Cambridge, Mass.
Published by the MIT News Office at the Massachusetts Institute of
Technology, Cambridge, Mass.
$7M OVERALL MIT Gives City $813,000 Continuing a practice dating to 1928, MIT has made a substantial voluntary payment to the City of Cambridge in lieu of taxes. A check for $813,000 was presented June 27 to Mayor Alice Wolf and City Manager Robert W. Healy by Philip A. Trussell, director of real estate and associate treasurer at MIT; Sarah J. Eusden, assistant for government and community relations, and Paul Parravano, assistant for community relations. The voluntary payment is in lieu of taxes on MIT-owned property that is legally tax exempt because it is used for educational purposes. In addition to the in-lieu-of-taxes payment, MIT has paid approximately $4,225,941 in property taxes levied in the current tax year on other MIT real estate in Cambridge. With that payment, MIT is the third largest taxpayer in the city. MIT has also paid Cambridge more than $102,000 this year for various licenses and fees required for operations at the Institute. An additional payment for water and sewer charges was made in the amount of $1,830,604. The Cambridge Electric Light Co. and Cambridge Gas Co.-two of the city's largest taxpayers-receive nearly $13.7 million annually from MIT for utility services. About $174,000 of that amount is passed on to the city by the two companies in tax payments. Altogether, MIT will pay Cambridge nearly $7 million this year.