UMC Proposes Increase In Property Tax Rate - KCBD NewsChannel 11 Lubbock

University Medical Center is proposing a 3% increase to its property tax rate.

If the proposal passes, a person owning an $80,000 home would pay about $2.52 more per year. The hospital would receive about $645,000 extra in revenue, money the hospital says it desperately needs. "Hospital margins are shrinking and we're at a crisis level in the nation for healthcare,"says Greg Bruce Division Director at University Medical Center.

A rising number of uninsured, the rising cost of pharmaceuticals, and a nursing shortage are also creating a need for the extra money. Lubbock County Commissioners are expected to vote on the proposal on Monday.