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Apr 10, 2024 · The findings: The value of the federal tax exemption is $3.6 billion across the $16.7 billion worth of bonds issued to finance stadium construction, the authors estimate. But the estimated loss in federal tax revenue is considerably higher: $4.3 billion.
This paper examines the role of federal tax subsidies in the form of preferences granted for bonds that state and local governments issue to finance the construction of professional sports stadiums.
- Austin J. Drukker, Ted Gayer, Alexander K. Gold
- 2020
May 23, 2024 · From 2020 to January 2023, there were five new stadiums built in the U.S. that cost a total of $1.97 billion, of which taxpayers funded $750 million, according to a report from the Journal of ...
Jun 27, 2018 · Kaliningrad and its new US$300m “Arena Baltika” stadium has been thrown into the spotlight by the football World Cup. But will the city’s latest project finally succeed in eclipsing its pre ...
Sep 4, 2023 · In the latter case, tax revenues would increase, but these taxes could be levied without financing a new stadium and used either to lower resident taxes or to increase local services. So, tourist taxes are not a free good to local residents.
Stadium subsidy. A stadium subsidy is a type of government subsidy given to professional sports franchises to help finance the construction or renovation of a sports venue. Stadium subsidies can come in the form of tax-free municipal bonds, cash payments, long-term tax exemptions, infrastructure improvements, and operating cost subsidies.
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State tax levels indicate both the tax burden and the services a state can afford to provide residents. States use a different combination of sales, income, excise taxes, and user fees. Some are levied directly from residents and others are levied indirectly.
