I assume that they have to pay normal taxes on their commercial and
residential rental property - that's certainly the case up here in MA.

Capt. JG wrote:
Do you deny that they own huge chunks of the city? They're one of the major
landowners, have been for a long time.

One of the many, many articles that give you a number for their vast
holdings...

http://query.nytimes.com/gst/fullpag...C0A9669582 60

"Besides the Roman Catholic Church, which owns 2,000 buildings in New York
City..."

But, of course, you don't believe the NY Times, right?