The sale of Mission Hospital to the Nashville-based HCA (Hospital Corporation of America) was supposed to generate a lot of money for the city of Asheville. But, the reality is Asheville will receive significantly less tax revenue from the sale of Mission Health to HCA than expected.
News 13 reports the sale will only generate about half of the $5 million city leaders expected. Yearly property tax revenue is also expected to be less -- $5 million instead of $8 million.
Mayor Esther Manheimer said the county tax office overestimated the tax revenue.
"Not just property located in the county but also in the city but outside the jurisdiction. For some reason, not anything we did, but the numbers we were given were based on more assets than they should have been," the mayor said.
City council will have to decide in future budget work sessions which discretionary projects will not receive funding.
