Published on February 26th, 2013 | by MD0
Elmhurst Memorial Hospital Property is Tax-exempt—Mostly
Source: Elmhurst Patch
A recent ruling that states most of the Elmhurst Memorial Healthcare property is tax-exempt has prompted city staff to request a reversal of part of its 2012 levy, which was approved late last year.
The Finance, Council Affairs and Administrative Services Committee heard Monday that on Feb. 15 the state of llinois declared three-quarters of the new EMHC campus tax exempt.
The committee will ask the City Council March 5 to approve abatement $650,000 of its levy request, thereby preventing residents’ property tax bills from showing an increase. The city actually approved a 1 percent decrease in the levy last year, with the wildcard being the hospital. The city is requesting a total of about $8.7 million in revenue from property taxes.
Read the rest of the Patch’s story here.