South Broward Hospital District Sets Millage Rate for Fiscal Year 2008-2009:
New Rate Provides Reduction in Taxes for Nearly 98 Percent of all Homesteaded Properties within the District

Thursday, September 25 2008

FOR IMMEDIATE RELEASE:


(Hollywood, Fla.) — The Board of Commissioners of the South Broward Hospital District, which oversees the operations for Memorial Healthcare System, will continue its multi-year history of providing tax relief to the taxpayers with the adoption of a millage rate of 1.1913, which was set at the September 24th board meeting. The new rate will provide a reduction in taxes for nearly 98 percent of homesteaded properties within the District.

The revenue received from property taxes is used to subsidize indigent programs for patient care services, including primary care centers and physician services. In addition, the South Broward Hospital District uses this revenue to match state funds for the Medicaid program, the Healthy Kids program and to give back to community redevelopment agencies in several municipalities. Tax funds available also cover services such as cancer therapies, pediatric services, sickle cell and cardiac care for indigent patients. None of the tax monies are used to fund capital projects.

It is estimated that in FY2009, uncompensated care provided by the District may reach about $794 million. This new millage rate of 1.1913 will net approximately $49 million in tax revenue, which only represents 3.5 percent of total budgeted net revenue.

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