Greater Regional Health board approved the tax levy for fiscal year 2024 during its February meeting.
Chief Financial Officer Matt McCutchan said many of the numbers have not changed from past years.
“The tax asking is the same it has been for 22 years, $1.14 million,” he said. The actual amount is $1,149,223.
Revenue from the tax funds ambulance, Federal Insurance Contributions Act (FICA) and the Iowa Public Employees’ Retirement System.
“We are taxing maximum for ambulance but not even close for FICA and IPERS,” McCutchan said.
The maximum tax asking allowed for ambulance service is $156,999, which is the amount for Greater Regional. For FICA and IPERS, the hospital’s tax asking is $417,613 and $417,612, respectively. The maximum amount for FICA is $4.2 million and $5.3 million for IPERS. Those maximum amounts are estimates, according to hospital information.
Including other expenses, like liability insurance, the total maximum tax asking allowed is $10.4 million.
Going back to 2010, the hospital has had a consistent tax asking of $1.14 million. McCutchan added the rate has decreased since then, but the total amount has not.
“When you look at where we are, going back to 2010, our tax rate in 2010 was $2.95. It’s now $1.98. It’s 33% less. The dollars are the same,” McCutchan said.
Board Chairman Dave Driskell credits the growth and efficiency of hospital operations to prevent additional tax asking.