Norwood Receives $1.2M in Tax Revenue from Hospital

From Norwood Hospital:

Norwood Hospital, part of the Steward Health Care system (Steward), announced Monday, May 2 that it paid $1,254,118 in taxes to Norwood for 2015 and an additional $61,148 to neighboring towns, making it one of the largest private taxpayers in the community. As one of the largest taxpayers in Norwood, Steward provides unrivaled financial support for local schools, first-responders and municipal services.

These taxes are crucial for Norwood, allowing it to pay for and support the equivalent of the average combined annual salaries of approximately five teachers, six police officers and seven firefighters. In addition to being one of the largest taxpayers, Steward also remains one of the largest employers in Norwood, employing a total of 1330 people locally. Furthermore, Steward spent an additional $456,000 in 2015 on community benefits programs for Norwood residents, including its Farmers’ Market Voucher and Chronic Disease Awareness Programs.

“As a private hospital, Norwood Hospital provides not only first-class care to local residents, it also provides a significant source of revenue to Norwood that contributes to the community’s overall quality of life,” said Kim Bassett, RN, BSN, MBA, president of Norwood Hospital. “Unlike many of the Boston-based hospitals that do not pay property taxes, as part of the Steward Health Care system, Norwood Hospital provides millions in tax dollars locally.”