Tax rate unchanged . . . FHD approves budget

2010-09-02 / News

In spite of losing 13 percent in taxable property values this year, Fairfield Hospital District is leaving its tax rate unchanged.

The FHD board of directors met last week to approve the 2010 tax rate and 2010-11 operating budget.

Property tax levy is set at 3.659 cents per $100 assess valuation, which will bring in an estimated $815,091.

Other revenue is $60,000 to lease the facility to East Texas Medical Center, $19,000 from the state tobacco settlement, $5,000 in tax interest and penalty income, $7,000 interest income and $800 from oil and gas royalties.

The board cut about $100,000 in proposed expenses to adopt a balanced budget of $906,872.

Major expenses are $400,000 for indigent care, $243,000 in emergency funds, $75,000 for hospital equipment, $47,000 for tax collections and $40,000 for contract labor.

The indigent care costs are offset by $300,000 through the federal Upper Payment Limit investment program.

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