Sep 2, 2014
10:41 AM
Education

Yale's Tax Exempt New Haven Property Assessed at $2.5 Billion

Yale's Tax Exempt New Haven Property Assessed at $2.5 Billion

Arnold Gold/New Haven Register

The Yale Law School in New Haven.

If you stroll up Chapel Street in New Haven, Yale University buildings rise up on either side of you.

On one side, between College and High streets, is the Old Campus quad.

On the other side is Claire’s Corner Copia, an Elm City vegetarian institution, and Starbuck’s coffee shop. Their landlord is Yale — through its University Properties office.

If you’re in downtown New Haven, whether on Chapel, York Street, Broadway or at Whitney Avenue and Audubon Street, it’s a good bet you’re near a Yale-owned building.

It’s not true, though it may seem so, that “the city is the university,” as a visitor from Brazil, Susana Moreira, said recently on Broadway during a tour of the Northeast with her daughter.

What is true is that Yale University, a premier, world-renowned research institution, takes up large portions of downtown, and doesn’t pay taxes on its dorms, classrooms, libraries, research labs or the grassy oases inside the residential quads.

Those properties, spread over the Hill, East Rock and other neighborhoods, are worth $2.5 billion in assessed value, according to the 2013 grand list, but are all tax-exempt by state law. (Yale and other colleges are specifically exempted by state law.)

See the full story at the New Haven Register.

Yale's Tax Exempt New Haven Property Assessed at $2.5 Billion

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