Hospital District Pays off Debt Early

A news release from the Regional District regarding the East Kootenay Regional Hospital District's early debt pay-off.

  • Apr. 19, 2011 7:00 a.m.

Property owners in the East Kootenay will notice something unusual on their property tax notices this year – a refund on one of the line items.

The East Kootenay Regional Hospital District (EKRHD), which funded a percentage of capital projects at health care facilities in the region prior to 1996, has paid off its debt early, which is good news for taxpayers. “We were able to pay off the debt ahead of schedule, which will save interest and administration costs,” explains EKRHD Vice Chair, Scott Manjak. “Funds received from the Municipal Finance Authority have contributed to a surplus of nearly $350,000, which the Board has decided to return to taxpayers.”

The refund equates to 2.2¢/$1000 of assessed value for residential properties, which works out to about $6.67 on a $300,000 property. The refund will show up on the EKRHD line item on 2011 property tax notices. That line item will be removed from tax notices starting in 2012.

Tax notices will still include a separate line item for the Kootenay East Regional Hospital District, which has been in place since 1996 and covers a larger area than the EKRHD.

For more Information: Scott Manjak, Vice Chair or East Kootenay Regional Hospital District 250-426-4211.

Regional District of East Kootenay

News release