Reply To: Suing The East Ramapo School Board

ZD

If the Property is income producing such as an apartment building that rents out apartments to the general public for a profit, it is taxable. However the same building used as student housing such as housing for kollel families at cost is non taxable. The key point is income producing, if owner receives $1.00 more than the expenses the building is taxable for property tax purposes.

As far a the NFL, Green Bay Packers & the New York Stock Exchange having non profit status. All of these entities filed papers with the state and federal government in order to be granted nonprofit status.

NYU and the Museum of Natural History got nonprofit status because they are educational institutions and as for nonprofit hospitals they fall under for the “public good” category.