Nonprofit homes for the sick or infirm

From the 2024 DOR Tax Exemption Study

84.36.040(1)(d) - Nonprofit homes for the sick or infirm Description Nonprofit nursing homes are exempt from property taxes on real and personal property. Purpose Supporting the social benefits these organizations provide. Taxpayer ($ in millions): savings FY 2024 FY 2025 FY 2026 FY 2027 State Taxes $3.175 $3.252 $3.330 $3.412 Local Taxes $9.393 $9.919 $10.475 $11.063 Repeal of Repealing a property tax exemption would not increase state revenues. The repeal exemption shifts the state property tax to the currently exempt taxpayers and reduces the tax burden of other taxpayers. The repeal may decrease the local rate. Local taxing districts at their statutory maximum may experience a revenue increase. Potential ($ in millions): revenue gains FY 2024 FY 2025 FY 2026 FY 2027 from full repeal State Taxes $0.000 $0.000 $0.000 $0.000 Local Taxes $0.000 $0.291 $0.570 $0.598 Assumptions - The total estimated exempt value is $1.46 billion. - This repeal takes effect beginning with property taxes due for calendar year 2025. - Growth rate mirrors the property tax growth rate reflected in the Economic and Revenue Forecast Council's March 2023 forecast. - Repealing this exemption shifts an estima