SugarHouse Casino
in PA pays for tax break
One of the two new casinos in
Philadelphia has agreed to pay over $67 million due to a tax
break.
SugarHouse
Casino has agreed to pay between $5.6 million to $7.4 million
per year for 11 years to offset a tax break. The tax abatement
on property taxes was passed by the City Council in the '90s and
it was designed to encourage the building of houses and business
structures and carries a 10 year abatement period. Otherwise the
city would be paid $10 million a year in property and occupancy
taxes by each of the two new casinos.
Foxwoods casino, the other licensed
Philadelphia casino, is disputing how much it owes in taxes and
the Board of Revision of Taxes is expected to rule next week on
their case.
Published on 06/14/2007
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