Coyotedroppings
Registered User
- Jul 16, 2017
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I've read several articles in the past that explain this, a quick search just came up with this as an example: Arizona lawmaker proposes changes to laws on special taxing district Coyotes hope to tapSorry I am just catching up but can you elaborate on this? I was under the impression, there would still be revenue generated from the sales tax (sales tax comprising of state and city rates) in the district which would benefit the city? And then obviously you have the land developed around there and the infrastructure for the utilities which makes it easier for the other surrounding land to get utilities? All of this also goes to increasing the values of the surrounding land plots raising the appraisal prices of the land for the auction?
I am just trying to understand how this entertainment district works exactly without all the legalese and political verbiage.
"These special taxing districts are exempt from state and local income and property taxes, and they can charge patrons a sales tax – revenue that can be used to help pay for the development".
The team can levy taxes up to 9% within the district, the city receives zilch. Feel free to search other articles that say the same thing.