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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 in PA pays for tax breakSugarHouse 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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