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How Affordable Is...

How Affordable Is Worcester Housing: New Research Bureau Report

Full and original article posted on GoLocal Worcester

Are non-profits adversely impacting the tax base in Worcester? According to a report released today by the Worcester Regional Research Bureau, the hospitals and colleges are becoming huge landowners and the impact is significant and growing.

“Over the past ten years, the value of tax-exempt property has grown as a percentage of total Worcester property value. The substantial increase between 2011 and 2012 is the result of the revaluation of all property; all tax-exempt properties are currently being reviewed. At present, there is $4.4 billion worth of land in Worcester from which the municipal government receives no property taxes,” says the report.

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