Fitch: NJ Hospital Property Tax Case Ruling Unlikely to Spread

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CHICAGO & NEW YORK--(BUSINESS WIRE)--A New Jersey tax court ruling that one nonprofit hospital in that state is not exempt from property tax for several recent years is unlikely to spread to other states, Fitch Ratings says. The court ruled that Morristown Medical Center used its property to operate for-profit businesses. The decision may be appealed. In our view, this is one of only a few cases that have found against nonprofit hospitals in decades. In many more cases, hospitals have prevailed

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