Appeals court gives YMCA of the Rockies hope on tax-exempt status
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#1 Jul 5, 2013
The use of the property determines tax exempt status, not the disposition of the profits earned. That would be like claiming you don't have to pay property tases on a rental house because you donate the net profit to a good cause. The non-exempt landlords are at a competitive disadvantage, since they have higher costs - taxes. YMCA competes with all other landlords in the valley and they shouldn't have to subsidze the Y through higher property taxes because the Y pays nothing. A tax exemption simply causes all who don't get the exemption to pay a bit more. Congrats to the Assessor for taking this on and seeing it through.
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