By Jacob Batchelor (July 7, 2015, 4:39 PM EDT) -- A recent New Jersey Tax Court decision eliminating Morristown Memorial Hospital's property tax exemption will open the door for tax entities to pursue payments from nonprofit hospitals, encourage municipalities to negotiate payments in lieu of taxes and get state legislators to redefine tax exemptions, experts say.
Here are three takeaways from the ruling:
Mixing Charity and Profits Leads To Lawsuits
The Morristown Memorial decision is the latest and most successful suit to challenge tax exemptions of nonprofit hospitals, but it took a different approach from suits in other states that counted charitable contributions as the prime indicator of nonprofit status.
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