With the sale of Logan Medical Center to Mercy Health System of Oklahoma, residents of Guthrie and Logan County will soon see the sales tax lowered. However, the timing of that has yet to be determined.
The Logan County Commissioners approved and signed the definitive agreement on August 29th after the Logan Medical Center Board of Trustees unanimously approved the asset purchase agreement for the sale in a special meeting on August 27th. The total sale price of the hospital came in at $7.26 million dollars.
The county is the beneficiary of the LMC Trust and owns the building along with the 20 acres it sits on which will also be sold.
The sale is tentatively scheduled to be final at the end of September. After the final sale, the County sales tax would be reduced by 43% and the total sales tax in Guthrie would go down from 9.25% to 8.5%.
County Commissioner and Chairman Mark Sharpton said Lowell Barto, the Assistant District Attorney, is checking into how quick the tax can be lowered. Sharpton went on to say, “The Oklahoma Tax Commission needs enough time to inform all of the tax collectors.”
Sharpton said he would like to see the sales revenue invested and use the profit of investments to help fund roads and bridges. However, he said that needs to be developed with advisers that specialize in making money securely.