NORWICH – Based on current assessment figures, the pending sale of the Pearl and Everett Gilmour Nursing Facility to a private company could add about $40,000 annually to the city’s tax rolls.

United Methodist Homes of Binghamton, a non-profit organization exempt from paying property tax, announced Wednesday it had approved the sale of Gilmour to an unnamed for-profit entity that operates several residential health care facilities throughout the state.

Located in the city’s 3rd Ward near the town border, the Gilmour facility is currently assessed at $2.3 million. Putting it in the hands of private company “would definitely add value to the roll,” said city Assessor Brian Fitts.

“First we’ll have to take a look at what it sells for,” said Fitts. “The sale price may have an effect on it.”

If the sale price is below the assessed value, Fitts said the buyer would likely be inclined to challenge the assessment. If the sale price is “dramatically” higher than the assessed value, the city would re-assess the property.