According to the report, the 47 non-profit hospitals in the study received an estimated $489 million annually in tax exemptions while providing $176 million in free or reduced-cost healthcare.
Illinois law requires that non-profit hospitals provide charity care in order to receive property and sales tax breaks.
From 2006-2009, the aggregate amount of charity care by Chicago non-profit hospitals increased $40.1 million; however, annual tax breaks for these hospitals grew $93.9 million during the same period, according to the report.
Read the CTBA’s release on Chicago non-profit hospital tax breaks (pdf).
