4 ms·

they could just have the university own the property and the sports team would rent it from the university and avoid the property tax like that

• JumpCrisscross 3y ago
  > they could just have the university own the property and the sports team would rent it from the university and avoid the property tax like that You don't let them do that. If it were that trivial, all real estate would be owned by non-profits.
  • changoplatanero 3y ago
    Hmm I’m not sure about that. How would the non profits get enough capital to own all the real estate? Universities are a counter example because they are well capitalized.
    • JumpCrisscross 3y ago
      > How would the non profits get enough capital to own all the real estate? Borrow it? If leasing back property from a non-profit were all it took, I'd "donate" my house to a non-profit in exchange for a lease at a rate lower than the property tax. The moment you sketch that out, however, you notice the holes that add back more taxes, e.g. the below-market lease now being taxed as income.