Previously, a 60-year-old tax provision exempted non-profit healthcare providers in the city from paying the tax. However, the Tacoma City Council members unanimously decided to cut the provision from a 100 percent tax-free exemption to 75 percent, according to the report. The tax is expected to add $538,000 to the city’s funds this year.
Tacoma currently faces a $33 million budget deficit, and this measure is the second phase of cuts and cost controls the city has put into place.
Related Articles on Hospitals and Taxes:
Deadline Approaching for Illinois Charity Care Legislation
Local Florida Hospital Bill Would Cut Public Money to Two Non-Profit Hospitals
What’s Next for Illinois Non-Profit Hospitals and Their Tax-Exempt Statuses?
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit