The Grossmont Healthcare District (GHD) Board of Directors announceD financial relief for homeowners within the District.
At their latest meeting, the Board approved a reduction in the Proposition G (Prop. G) tax rate from $24.59 to $20.38 per $100,000 of assessed property value — a 17.1% decrease. This reduction, effective for the fiscal year 2024-2025, reflects the Board’s unwavering commitment to strong financial stewardship and prudent management.
Passed overwhelmingly by voters in June 2006, Prop. G authorized the issuance of General Obligation Bonds up to $247 million. These funds were instrumental in the extensive renovation, repair, and expansion of Sharp Grossmont Hospital, ensuring that the community continues to receive high-quality healthcare services across numerous primary and specialty areas. The Board’s latest decision is a direct result of the District’s successful financial strategies, which have maintained robust reserve balances while responsibly managing debt service payments.
“This reduction in the Prop. G tax rate is a testament to the diligent work of our Board of Directors and the District’s management team,” said Christian Wallis, DHA, MBA, FACHE, Chief Executive Officer of Grossmont Healthcare District. “In addition to protecting the health and wellness of our District, we have also consistently prioritized the financial well-being of our community, ensuring that the tax dollars entrusted to us are used efficiently and effectively. The board’s recent decision underscores our commitment to delivering value to the taxpayers while sustaining the excellence of Sharp Grossmont Hospital.”
The new tax rate will still generate sufficient revenue to meet the District’s debt obligations for the upcoming fiscal year. The reduction is possible because of the District’s reserve balance, which exceeds the necessary amount to cover the next three semi-annual debt service payments. By drawing modestly from these reserves, the District is able to offer immediate tax relief to homeowners without compromising the financial integrity of the Prop. G program.
“The Board’s decision to lower the tax rate is a direct result of our careful financial planning and oversight,” stated Gloria Chadwick, RN, President of the Board of Directors. “Our goal has always been to balance fiscal responsibility with the health and wellness needs of our community. We are pleased to offer this reduction as a way of giving back to the homeowners who have supported the continued growth and success of Sharp Grossmont Hospital and the Grossmont Healthcare District.”
This tax rate reduction is expected to positively impact homeowners across the District, providing financial relief while maintaining the ongoing commitment to high-quality healthcare services in the region. The Board of Directors said it remains committed to transparency and fiscal responsibility, ensuring that the community’s resources are managed with the utmost care and accountability.
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