Exempting churches from taxation costs the government billions of dollars in lost revenue, which it cannot afford, especially in tough economic times. According to former White House senior policy analyst Jeff Schweitzer, PhD, US churches own $300-$500 billion in untaxed property. [9] New Yorks nonpartisan Independent Budget Office determined in July 2011 that New York City alone loses $627 million in property tax revenue. [11] Lakewood Church, a megachurch in Houston, TX, earns $75 million in annual untaxed revenue, and the Church of Scientologys annual income exceeds $500 million. [32] [33] The parsonage exemption on ministers homes makes already-wealthy pastors even richer at taxpayers expense. The average annual salary for senior pastors with congregations of 2,000 or more is $147,000, with some earning up to $400,000. [61] In addition to the federal exemption on housing expenses enjoyed by these ministers, they often pay zero dollars in state property tax. Church leaders Creflo and Taffi Dollar of World Changers Church International had three tax-free parsonages: a million-dollar mansion in Atlanta, GA, a two-million-dollar mansion in Fayetteville, GA, [63] and a $2.5 million Manhattan apartment. [64] Kenneth and Gloria Copeland, leaders of Kenneth Copeland Ministries in Fort Worth, TX, live in a church-owned, tax-free $6.2 million lakefront parsonage. [62]
Posted on: Wed, 06 Aug 2014 22:55:05 +0000
Trending Topics
Recently Viewed Topics
© 2015