Illinois Hospital Property Tax Exemption
The Illinois Supreme Court decided that nonprofit hospitals will receive a property tax exemption. To benefit from the tax exemptions, hospitals need to provide at least as much charitable assistance in a given year equivalent to its would-be property-tax bill.
Some of the Chicago area’s most prominent healthcare centers such as Northwestern Memorial Hospital and University of Chicago Medical Center won’t have to pay property taxes.
The news was received with relief by hospitals associations across the state, however, many critics of the law say many not-for-profit hospitals operate like a business and should contribute to their communities.