Laserfiche WebLink
� <br />� <br />SF`CB - Project Plan for beveYopment of PILOT for the City of Springfield Page 7 <br />Spxing�eZd's �'oten��a� for a PILOT Program <br />Similarto Boston, Cambridge and Worcester, a large portion of Springfield's total <br />valnation is tax- exempt. Springfieldhas the si�th highestpercentage oftax-exempt <br />property of all the cities i�. Massachusetts. Below is a chart comparing Springfield's <br />proportionate share of tax-exemptpropertyto that of Boston, Cambridge, and Worcester. <br />, Percentage of Tax-Exempt Property . <br />30% <br />�5°•t � -• � .,— � — .._. <br />':{ ti <br />i �.0� � • — --• _ ���.; . ..__.. . _._ <br />,• I , k..��. <br />_�� J' `•`'�I ':';�kf','. <br />� I = �,� <br />1 � `� -' � - l, •, k�?' I >, � • I.�,�'' - ' i•. -. • � <br />i:�': ��y,. �.�ti �F,. '� { �}• L� I <br />1�� . � w� .-- .�i�.r..> , �. <br />rj�l '}`l , • •��•� <br />I�� •' M1 � i <br />a � =_ s', � `J <br />�y�i= <br />� � .c — � =,jl . _ �' —_ ��'� � <br />Boskon Cambridge Worcester Springfieid <br />Comparatively, it appears that a large percentage of S�rin�£zeld's total value is tax- <br />exempt. However, in terms of revenue potential further exa�ation is required. The <br />chart below combares the same communities on the basis ofthe value of the tax-exempt <br />properiy in biilions of dollars. <br />Total Value ofTax-Exempt Property in Billions <br />� <br />2� k� <br />i'{{���'•%`x <br />. r.•�I <br />1�} . �ry��M1�-� . <br />�,r' '"f� <br />;'�:'{+( ,; <br />� —• ••{ �r' t`� <br />� . ..._� �"�^ <br />Boston <br />.;, � <br />':'}L•,�`�i.- -- •- <br />_ i <br />Li.. �'.• � <br />• ��.o-�.� � - ' <br />.i, i • �' <br />Cambridge Worcester Sptu�gfield <br />Boston has by f�• the most at $20.438 billion; Cambridge has $6.832; Worcester $2225; <br />and then Springfield at $1.526 billion. Does that mean that if Boston can bring in $22 <br />million in P I LOT revenues on a tax-exempt base of over $20 billion that Springfield <br />could bring in a proportionate m o unt of $1.6 million? <br />J.F. Ryan Associates, Inc. <br />September 16,2005 <br />