Hartford Latest to try PILOTs

This story in the Hartford Business Journal on-line details the efforts of Hartford to implement a PILOT (payment in lieu of taxes) program, aimed at the largest nonprofits in the city.  Like Boston, which has a PILOT program, Hartford has a number of very large nonprofits (mostly hospitals and universities) that are exempt from property taxes (although the state actually does reimburse the city some $40 million for its property).  Like Boston, over half the property in Hartford is tax-exempt as the result of either state or private charity ownership.  And like Boston, the revenue lost is huge – Hartford estimates that the value of exempt property is $3.6 billion (yes, that’s “billion”).  And like Boston, the charities complain that everything they do helps economic development – so they shouldn’t have to pay taxes.  Hmmm . . . Wonder if Microsoft enhances the economic development of Redmond, WA – and the last time I checked, Microsoft paid taxes . . . 

JDC