Comment 82950

By John Neary (registered) | Posted November 15, 2012 at 21:49:44

The other issue that hasn't been much discussed along the way is area rating.

As of 2007, Flamborough homeowners got a discount of 0.068% on their property tax bills because of slot revenues at Flamboro Downs. On a house assessed at $300,000, that works out to $204 per year.

If Flamboro Downs closes and the casino moves downtown, Ward 15 taxpayers are going to mutiny over the end of that area rating subsidy.

Will the area rating subsidy follow the casino to Ward 2? Somehow I doubt it. Another reason to oppose a downtown casino, as if there weren't already lots of better ones.

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