Archive for the ‘Nonprofit’ Category

Illinois Hospital Tax Break Costs $10 Million

Friday, November 9th, 2012

Cash-strapped Illinois is facing $10 million a year in lost revenue caused by a tax-break for investor-owned hospitals. According to the Daily Herald, hospital industry officials say the tax credit recognizes the free care they provide to the uninsured, but some state officials were puzzled about how for-profit hospitals were able to land a major tax break in the intense closed-door negotiations during a statewide financial crisis.

Illinois Governor, Pat Quinn, singed a package of $2.7 billion in cuts and tax increases back in June that were supposed to save the state program for healthcare funding to the poor and disabled. The result was the loss of coverage for thousands of working families and hospitals facing tougher rules for providing free care to patients who don’t qualify for Medicaid. Officials statewide are up in arms with the loss in revenue and its affect on citizens.

To read the full article from the Daily Herald, click here.

Posted in Economy, Health Care, Mid America, Nonprofit, Real Property | No Comments »

Boston Property Taxes Show Modest Gain after 2-Year Dip

Wednesday, May 23rd, 2012

Property tax rolls for the city of Boston, Massachusetts are growing modestly due to new construction and commercial properties previously being tax exempt. According to The Boston Globe, after two years of decline, the increase in tax revenue in the area can largely be attributed to new office towers, the expiration of tax breaks, and the sale of two Catholic hospitals to a for-profit company. Overall, the state of the city’s current fiscal health is very positive.

Values of business properties increased for the first time since the end of June 2009. Among the increases include the previously mentioned acquisition of two hospitals to Steward Health Care System, who is now on the hook for $287.3 million in property taxes. In addition, the growing office market, whose values increased nearly 4%, may have seen a modest increase in comparison to previous booms, but nonetheless demonstrates a positive direction.

To read the full article from The Boston Globe, click here.

Posted in Construction, Eastern, Economy, Nonprofit, Office, Real Property | No Comments »

Ruling a ‘Game-Changer’ for Nonprofit Tax Status in Pennsylvania

Wednesday, May 2nd, 2012

A ruling by the Pennsylvania Supreme Court on a religious organizations school camp claimed that most of the 61-acre spread is taxable because it does not meet all of the criteria previously established for charities in the state. According to the Pittsburgh Post-Gazette, the ruling could mean a return to the 1980′s and 1990′s when the tax-exempt status of charities in the state of Pennsylvania, hospitals in particular, was regularly challenged by local governments.

At a time when municipalities and school districts are stretched for resources, this ruling could open the doors for many challenges on similar organizations’ properties. This will allow Pennsylvania officials to be able to enforce higher bars for tax exemption. Many claim that it is still too early to tell if this ruling will lead to an influx of challenges across the state, but it is certainly a possibility.

To read the full article from the Pittsburgh Post-Gazette, click here.

Posted in Eastern, Nonprofit, Real Property | No Comments »