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.