City Council votes 7-0 to authorize first-half real estate tax bill of more than $1 million
By Vic BradshawThe Winchester Star
September 29, 2010
WINCHESTER- The not-for-profit Winchester Medical Center is not exempt from property taxation, according to a report prepared by the commissioner of the revenue and endorsed Tuesday by the City Council.
In a decision that likely is the first of its kind in Virginia, the council voted 7-0 to authorize Commissioner Ann Burkholder to prepare a first-half real estate tax bill for the portion of the WMC campus that has not been billed, unless compelling evidence is presented that the property is exempt.
That bill would total slightly more than $1 million, Burkholder said, and bills for personal property taxes and up to three years of back taxes could follow.
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http://winchesterstar.com/articles/view/wmc_ruled_not_tax_exempt
2 comments:
The “Winchester Medical Center” has been very profitable for years 2001-2007 where their profits increased 460% but dropped off in 2008.
Figures for 2009 were not available to The Pub.
2001 - $11.8 million (Quad State Biz Journal)
2002 - ?
2003 - ?
2004 - ?
2005 - $54,346,679
2006 - $57,422,678
2007 - $66,617,961
2008 - $ 9,500,911
2009 - ?
In my opinion, I believe something needs further clarification on the IRS 990 figures on page A6 of The Winchester Star for “Valley Health” which is the “Corporate Management” side as I understand it and the NOT the entire VHS organization as a whole.
2008: (-9,725,512)
2007: (-9,281,808)
2006: (-7,559,599)
=================
Total: (-26,566,919)
Based on information shared by a VHS corporate official in December of 2009, the entire VHS organization for years 2004-2008 had the following profit/loss figures:
2004 - $42,613,000
2005 - $53,800,000
2006 - $59,432,000
2007 - $62,803,000
2008 – (-42,000)
=================
Total: $218,606,000
If I am mistaken, then I will stand corrected.
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