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Council approves assessment deal for Lock Haven Hospital property; returns site to tax rolls
Summary
Lock Haven City Council approved an assessment settlement with 24 Cree Drive LLC that sets a lower assessed payment for 2026–2027 and moves the hospital properties back onto local tax rolls; the county had already approved the arrangement.
Lock Haven — The Lock Haven City Council on April 6 approved an assessment appeal settlement with 24 Cree Drive LLC concerning Lock Haven Hospital properties.
Terms and context: Under the negotiated agreement the assessed amount for 2026 and 2027 is set at $4,944 (for the first two years), and thereafter the property will be assessed at fair-market value, listed in the packet as $8,623,958 for subsequent years. Council noted the county has already approved the settlement; as the local taxing body council approval completes the municipal step to put the property back on the tax rolls.
Council rationale: Council members said restoring the property to the tax rolls after years of exemption would produce local tax revenue and is a positive development for city finances. The motion to approve the assessment settlement was seconded and passed by council vote.
Next steps: Staff will process the assessment change with county and municipal records to implement the updated tax status.
