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Re: Jersey City hospital to pay 'voluntary' taxes after city challenged tax-exempt status
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JCMC, now part of the RWJBarnabas Health system, owns four properties in Jersey City, tax records show. Its main campus, located on Grand Street in an upscale area of the city, is assessed at $12.6 million. If the hospital were not tax-exempt, it would pay $800,000 in property taxes this year, city attorney Nick Strasser told the City Council on Oct. 9. How can the JCMC campus on Grand be worth only $12M? That's the same as 6 rowhouses, and it's freaking acres with a big building on it! But the $800k makes no sense as tax on $12M, so maybe that's the old assessment not the post reval. Even so $50M still seems low, according to this article they spent well over $100M on it.
Posted on: 2018/10/16 3:30
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Jersey City hospital to pay 'voluntary' taxes after city challenged tax-exempt status
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Home away from home
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Jersey City hospital to pay 'voluntary' taxes after city challenged tax-exempt statusJERSEY CITY — After city officials appealed Jersey City Medical Center's tax-exempt status, the Downtown hospital has agreed to kick in $550,000 annually to the city's coffers for the next six years. The agreement, which is part of a legal settlement between the hospital and the city, comes three years after a tax court judge ruled that Morristown Medical Center should pay Morristown property taxes because it fails to meet the legal test that it operates as a nonprofit. That ruling led dozens of towns statewide to sue hospitals seeking tax revenue. https://www.nj.com/hudson/index.ssf/20 ... gal_matter_over_hosp.html
Posted on: 2018/10/16 1:14
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