Property Taxes on Zygi Wilf’s Vikings Stadium? #wilfare

One thing I’ve mentioned earlier regarding the Vikings stadium corporate welfare plan is that Minneapolis would take a hit on property taxes because acres of value real estate would flip from taxable to tax exempt. Cam Gordon ran the numbers on this and found that it comes to a more than $400,000/yr tax burden that would shift to the city’s remaining property tax payers.

But, Indianapolis took a different approach. The Colts did’t ask for the land to be tax exempt. Instead, their contract simply says that they’re not paying:

That’s an interesting approach. Let taxpayers pay the taxes.

One thought on “Property Taxes on Zygi Wilf’s Vikings Stadium? #wilfare”

  1. In Santa Clara the 49ers aren’t paying property taxes for the stadium either. The land it is supposed to be built on is owned by the city, and the stadium will be a municipal stadium although we will make almost nothing on it (consultants estimate a negative rate of return). So there will be no property taxes paid and no sales taxes paid on the personal seat licenses (because the city’s agency is selling the seat licenses and taking on that risk.)
    These deals are written by NFL or team attorneys who of course structure the deals for the benefit of the team owners. In Santa Clara our city manager (former librarian) was the chief negotiator. The city didn’t have a professional negotiator like the team has. Nor did our council majority have the will to make sure the deal was beneficial to Santa Clara, not just to the team.

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