Why a mill levy, why not a GRT rate increase?
We investigated all options from GRT to Mill Levy. Both were evaluated for the best possible outcome for Holy Cross Hospital as well as the community. The county commissioners ultimately made the final decision as to what type of tax support to proceed with.
We are asking for 1 mill in property tax money which would produce about $1.4 million per year. The cost to the average homeowner for 1 mill is about $33.33 for every $100,000 of property value. If you think of the cost of a single trip to Santa Fe or Albuquerque to receive care, it would not take long to pay for this additional tax. This translates to less than a dime a day.
A mill levy would provide additional funds that a GRT could not. Also, Taos County already has a very high GRT, one of the highest in the state while it is one of the lowest in Mill levy taxes.
Taos has over 2070 addresses associated as second home ownership and living outside of the town or the county. They are through land, mobile home, or home. These second home owners will also have to share the Mill Levy tax burden.
It is not uncommon for hospitals to leverage some sort of Mill Levy or GRT, and at least 17/40 of the hospitals in New Mexico utilize some sort of tax support.