New Jersey Non-Profit Hospital Agrees To Pay Property Tax

On November 10, 2015, the Town of Morristown, New Jersey and Atlantic Health System announced that the health system had agreed to pay $15.5 million  in local property taxes on its 700-bed non-profit Morristown Medical Center hospital, a subsidiary of Atlantic Health System.  The payment is a settlement of property tax appeals for 2006 through 2015.   The hospital system also agreed to make future property  tax payments through 2025. Morristown Medical Center will remain a non-profit organization for federal tax purposes.

Under the terms of the agreement, over the next 10 years Morristown Medical Center will . . .