Y.M.C.A. v. Keene

The plaintiffs' property on West street is exempt from taxation "so long as and to the extent that it is used for the purposes of the association." Laws 1893, c. 259. The preamble to the act declares that those purposes are solely benevolent and charitable. That portion of the building which is let to tenants is not used for the purposes of the association, but to obtain an income, or, in the language of the preamble, "for the purpose of profit or gain." The use made of the income does not entitle the plaintiffs to an exemption of the property from which the income is derived. Nor is the fact…