Tax Board Revokes Exemption Status on All LECOM Properties

LECOM health could soon be paying a lot more in taxes.
According to a report from the Erie Times, the tax assessment board voted unanimously Monday to revoke the tax exemption status on all LECOM properties.
The review included Millcreek Hospital, whose tax status was discussed a month ago. The revocation however does not include the properties that are already in dispute in Erie County court.
The largest properties include the Lake Erie College of Osteopathic Medicine campus, Millcreek Community Hospital, and the Corry Memorial Hospital, which LECOM Health purchased last year. Millcreek Community Hospital is assessed at $18 million, and its tax bill would be around $400,000.
Yesterday's vote is not permanent however; the exemptions are to prompt LECOM health officials to attend future board hearings to justify an exemption for each property.
LECOM health is offering the county $1.3 million in grants over eight years in exchange for the county to not challenge the exemptions.
The final decision would affect hundreds of thousands of dollars in potential property tax revenue.
Any final changes would not go into effect until January, 1st.