Sarx

HE ROMAN Catholic Ecclesial Community in San Francisco has paid out some $40 Million in clergy-related Sex Abuse cases. In an effort to protect some assets, they transfered some very famous property – including Mission Delores, the old cathedral (St Mary’s) and the historic but totally abandoned St Francis church in SoMa – to another non-profit. Now SF say the Romans owe $15 million in taxes on the transfer. As the CNA notes

Nonprofits are exempt from property and federal income taxes but are subject to property transfer taxes.

Sounds like an open and shut case to me – but the Romans are saying this is simply a “reorganisation” not a transfer.

Hmmm.

Regardless of what one feels about empty museum pieces sitting tax-free on prime real estate in a city with very little affordable housing in the same neighbourhoods…

Here’s another good reason not to accept tax benefits from Caesar.