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slides: Worcester Businesses That Pay the Most Taxes

Saturday, December 01, 2012


These companies are paying millions in taxes -- the top 25 highest in Worcester. Do you think they're getting a fair deal?

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#25 Charter Comm.

Real Estate Value:  $2,355,200.00

Overall Tax: $442,163.00    

Percent of Total Levy: 0.19


Charter Communications is headquartered in another state, but their local branch here in Worcester faces its share of taxes. The company provides many with internet, cable television, and phone services.

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#24 KOP Perkins Farm

Real Estate Value:  $15,783,800.00

Overall Tax: $458,835.00    

Percent of Total Levy: 0.2


KOP Perkins Farm Marketplace, LLC is an affiliate of another shopping center developer and operator and owns area outlets.

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#23 Coorstek Inc.

Real Estate Value:  $4,397,100.00

Overall Tax: $470,315.00    

Percent of Total Levy: 0.21


According to the company's website, CoorsTek builds custom components usings advanced technical ceramics, engineered plastics, specialty metals, and hybrid materials. They are located at 5 Norton Drive in Worcester.

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#22 ARE-381 Plantation St

Real Estate Value:  $16,320,100.00

Overall Tax: $474,425.00    

Percent of Total Levy: 0.21


This lab space on Plantation Street is operated by Abbott Bioresearch. ARE-381 reportedly owns and manages the property.

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#21 Newgate Properties

Real Estate Value:  $16,943,300.00

Overall Tax: $492,542.00    

Percent of Total Levy: 0.21

Newgate Properties owns and oversees multiple properties in the area, including local spots used for pharmaceutical research and WPI in the Gateway Park area of Worcester.

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#20 Worcester Biz. Center

Real Estate Value:  $16,990,300.00

Overall Tax: $493,908.00    

Percent of Total Levy: 0.22

Located at 67 Millbrook St, the Worcester Business Center is a 260,000 square foot building of office space on five floors for growing businesses.

According to their website, the building is currently home to more than 45 successful companies.


Just off Worcester’s well-known Gold Star Boulevard (Rt. 12 North), the Center is located in close proximity to a complete range of support amenities. Readily accessible to and from downtown Worcester, with ample free surface parking, the new Worcester Business Center provides a perfect location for your business to service customers and clients in the greater Worcester area.

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#19 Webster Sq Shopping

Real Estate Value:  $17,754,700.00

Overall Tax: $516,129.00    

Percent of Total Levy: 0.23


According to Showcase.com, the Webster Square Plaza was built in 1958 and includes 107,385 square feet of freestanding retail space.

Businesses include Dollar Tree, Marshalls, and Planet Fitness.

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#18 IPC Louisville Prop.

Real Estate Value:  $18,239,500.00

Overall Tax:  $530,222.00    

Percent of Total Levy: 0.23


According to city records, IPC Louisville Properties, LLC owns 55 and 52 Elm Street in Worcester.

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#17 Are-1 Innovation Dr.

Real Estate Value:  $19,275,900.00

Overall Tax: $560,350.00    

Percent of Total Levy: 0.24


Are-One Innovation Drive owns biotech properties, including one for BioTech Three, which operated from One Innovation Drive, near Worcester State Hospital.

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#16 Paul Revere Life Ins.

Real Estate Value:  $22,454,800.00

Overall Tax: $652,761.00    

Percent of Total Levy: 0.28


The Paul Revere Life Insurance Company, more commonly known as Unum, is located at 18 Chestnut Street. The company offers disability, life and financial protection benefits.

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#15 New England Power Co.

Real Estate Value:  $7,898,700.00

Overall Tax:  $653,165.00    

Percent of Total Levy: 0.28


The local branch of National Grid, New England Power Company, is responsible for over 9,000 miles of electricity transmission and delivers electricity and natural gas to the Northeast.

The branch serves over 3.3 million customers with electrical power and 3.4 million customers with natural gas... but don't worry, its competion, NStar made the list as well.

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#14 Madison WM Holdings

Real Estate Value: $24,154,400.00

Overall Tax:  $702,168.00   

Percent of Total Levy: 0.31


Madison WM Holdings (also known as Madison Worcester) owns multiple properties on Tobias Boland Way.

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#13 S-BNK Worcester Main

Real Estate Value:  $27,610,600.00

Overall Tax: $802,640.00    

Percent of Total Levy: 0.35


The Soverign Bank Building, located at 446 Main Street, across from Worcester's City Hall comes in at number 13.

The building is 24 stories high and stands as one of the most iconic buildings in the city, due to its reflective glass.

According to city records, the property is owned by Trammell Crow Company.

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#12 Mayflower Greendale

Real Estate Value:  $29,934,100.00

Overall Tax: $870,184.00    

Percent of Total Levy: 0.38


Another large Worcester building is next on the list -- the Mayflower Greendale, or the Greendale Mall, near the intersections of 290 and 190.

The mall currently houses a Best Buy, Bath and Body Works, TJ Maxx, Clarie's and more, including a food court.

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#11 Lincoln Street Realty

Real Estate Value:  $37,165,600.00

Overall Tax: $1,080,404.00    

Percent of Total Levy: 0.47


Another property owner makes the list at number 11.

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#10 TGM Plantation Ridge

Real Estate Value:  $37,625,400.00

Overall Tax: $1,093,700.00    

Percent of Total Levy: 0.48


An apartment complex breaks the top ten highest taxpayers in Worcester. TGM is located at 511 Plantation Street, conveniently close to UMass Memorial, Lake Quinsigamond, and other sites and amenities.

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#9 Saint-Gobain Abrasives

Real Estate Value:  $41,945,600.00

Overall Tax: $1,219,359.00    

Percent of Total Levy: 0.53


Saint-Gobain Abrasives operates out of Worcester as the largest global abrasive supplier for bonded, coated, non-woven and superabrasives. They also handle diamond and equipment products for the industrial, construction, automotive repair and do-it-yourself markets.

Saint-Gobain Abrasives is a sector of Compagnie de Stain-Gobain, a multinational corporation with headquarters in Paris, France.

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#8 Worcester TC LLC

Real Estate Value:  $42,478,800.00

Overall Tax: $1,234,859.00    

Percent of Total Levy: 0.54


According to city records, Worcester TC LLC. is another research and development center operated by Abbott Labs. The property is listed to have 1,303,271 square feet.

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#7 440 Lincoln St Holding

Real Estate Value:  $52,409,700.00

Overall Tax:  $1,523,550.00    

Percent of Total Levy: 0.66


The property listed at 440 Lincoln Street, Hanover Insurance Co. comes in at number 7 of the highest taxed businesses in the city.

In 1969, the company moved its headquarters from New York City to Worcester.

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#6 Worcester Ren. Towers

Real Estate Value:  $53,936,600.00

Overall Tax: $1,567,937.00    

Percent of Total Levy: 0.68


According to Kelleher and Sadowsky Associates, Worcester Renaissance Towers LLC  was recently represented in the lease of 29,942 square feet of Class A office space in Worcester at 100 Front Street. City records show they own the building, as well as 120 Front Street and an extension.

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Real Estate Value:  $61,143,800.00

Overall Tax:  $1,777,450.00

Percent of Total Levy: 0.78   


V3B SA LLC., in affiliation with Inland Real Estate Corp. is listed as the owner of Lincoln Plaza, a large group of shops on Lincoln Street. The shopping center includes Target, Lowe's, Dick's Sporting Goods, Stop and Shop, and others.                   

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#4 Verizon New England

Real Estate Value:  $7,677,900.00

Overall Tax: $1,800,593.00  

Percent of Total Levy: 0.79         


Verizon New England may be based in Boston, but their local branch has its share of taxes, too.

Verizon provides local exchange access, long-distance, wireless, Internet services to residential and business customers. The regional company also sells and installs telephone equipment for customers, oversees billing and collections for the region, and offers inventory management services.

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#3 Nstar Gas Company

Real Estate Value: $3,592,600.00

Overall Tax: $1,869,114.00    

Percent of Total Levy: 0.82       


Another utility company makes the list at number 3. NStar's local branch is located on Quinsigamond Ave. According to online records, they employ 2,000 to 5,000 local employees

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#2 VHS Acquisition Sub.

Real Estate Value:  $115,460,986.00

Overall Tax:  $3,356,451.00

Percent of Total Levy:  1.46


VHS (or Vanguard Health Systems Inc.) Acquisition Subsidiary owns several properties on Summer Street, including Saint Vincent Hospital at 123 Summer Street.

The property is listed as an "acute general hospital is an institution whose primary function is to provide inpatient diagnostic and therapeutic services for a variety of medical conditions, both surgical and non-surgical, to a wide population group."

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#1 Mass. Electric Company

Real Estate Value:  $13,613,900.00

Overall Tax: $4,643,973.00   

Percent of Total Levy: 2.03


NStar's branch of electric supply, Massachusetts Electric Company, scored the top spot. The company is located locally on Southbridge Street.


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