Fight over non-profit hospitals’ tax exemption looming
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.
From The Record, December 5, 2015
New Jersey’s non-profit hospitals may not pay property taxes, but they generate so many jobs, both directly and indirectly, that their economic activity contributes more than $1.4 billion to local and state tax revenues, a report commissioned by the state hospital association said Friday.
The industry is bracing for legislative action that might threaten the current exemption from property taxes in the wake of a precedent-setting Tax Court decision earlier this year involving Morristown Medical Center. State Senate leaders have said they plan to introduce legislation this month to clarify the standards for maintaining a property-tax exemption, to better reflect hospitals’ evolution into complex corporate enterprises since the tax code was written in 1913.
In Bergen and Passaic counties, the value of hospitals’ tax exempt properties is conservatively estimated at more than $700 million.