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real estate investment trust that owns the land and buildings used by Sharon Regional Medical Center has seen its property taxes significantly reduced through a reassessment. The Mercer County commissioners and Sharon City School District have approved resolutions to settle eight tax-assessment appeals filed by MPT of Sharon, which owns the medical center properties.
As a result, the county, school district, and City of Sharon will lose future tax revenue and must refund over $700,000 in overpaid taxes. The change comes after Sharon Regional Medical Center reopened under new non-profit ownership following its closure earlier this year by its bankrupt for-profit owner.
