ASHEVILLE, N.C. (WLOS) — The pending sale of Mission Health to a private for-profit entity could ultimately create a windfall of almost $15 million for city and county property tax revenue streams.
Buncombe County commissioners estimate the potential property taxes that would come from Mission could total upward of $8 million. Asheville Mayor Esther Manheimer said she ran the numbers from Buncombe County tax assessor estimates that show potentially, in 2020, if the deal goes through, property tax streams from Mission could translate to $6.8 million for the city.
Manheimer said it was way too early to consider what uses the money might have. But Buncombe County Commission Chairman Brownie Newman and Commissioner Mike Fryar agreed one of the potential beneficiaries could be county taxpayers with lower property tax rates.
“I’m excited about it,” said Fryar who estimated that a person owning a $300,000 home could see their property tax bill go down between $60 and $90 in several years, if the amounts estimated for property tax revenues from Mission come to fruition.
If the hospital, which operates as a not-for-profit now, becomes a for-profit health care facility, Fryar said many of the buildings and medical offices Mission has purchased in recent years would all become generators for property tax revenue.
Newman said in addition to potential adjustments in the tax rate, revenues coming in from the hospital could go toward county priorities of early education and pre-K schools, as well as affordable housing.
Fryar said he has been told the deal could go through as soon as October, but neither Mission Health nor Hospital Corporation of America has provided an estimate for when the sale could be finalized.