Currently, Provena Health's balance sheet should be able to withstand potentially millions of dollars in property tax payments for one of its hospitals following an Illinois Supreme Court decision against the company, according to a new report by Standard & Poor's. The high court, upholding a lower court's ruling, last week found the Illinois Department of Revenue was correct in withdrawing Provena Covenant Medical Center's property tax exemption in 2004 because the Urbana hospital failed to adequately justify its exempt status through charitable care.
