Dallas County voters Tuesday overwhelmingly approved replacing 54-year-old Parkland Memorial Hospital with a larger, modern facility.

The $747 million bond election will cover about 60 percent of the cost of a new $1.3 billion public hospital. The 862-bed facility will be constructed across Harry Hines Boulevard from the current 675-bed hospital.

When the hospital is completed in 2014, it will add $52.50 in annual property taxes for owners of a home valued at $150,000. That represents a 13.7 percent increase in the Dallas County Hospital District’s tax rate.

Other voters said they supported the new public hospital because they might need to use it someday.

The bond election represents the first time in 28 years the hospital district has asked voters to fund a construction project. About $500 million of the cost will come from private donations and revenues the hospital has on hand.