The Midland County Hospital District board of directors, which manages the indigent care funds of Midland (Texas) Memorial Hospital, approved a lower tax rate for homeowners for the upcoming fiscal year, according to a Midland Reporter-Telegram report.
Hospital officials decreased the property tax rate from 16.22 cents per $100 of property to 13.973 cents. Overall, taxpayers in median-valued homes will be paying $20 to $30 less next year, according to the report.
The district agreed to a lower rate because officials projected more property tax revenue in FY 2013 due to new taxable properties in the area. They expect to receive more than $22.53 million in tax revenue next year for the hospital's indigent care population, which is more than what was recorded this year.
Hospital officials decreased the property tax rate from 16.22 cents per $100 of property to 13.973 cents. Overall, taxpayers in median-valued homes will be paying $20 to $30 less next year, according to the report.
The district agreed to a lower rate because officials projected more property tax revenue in FY 2013 due to new taxable properties in the area. They expect to receive more than $22.53 million in tax revenue next year for the hospital's indigent care population, which is more than what was recorded this year.
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