Tax relief falls short
Posted: Sunday, May 5, 2013 12:15 am
No doubt there were those — either because they are philosophically opposed to gambling or simply don’t put much stock in government promises — who pooh-poohed former Gov. Ed Rendell’s prediction that revenue from slot machines would produce a billion dollars a year in school property tax reductions.
Relief from the much-reviled tax was a major selling point in Rendell’s ultimately successful pitch to bring slots to the commonwealth.
What we’ve witnessed in the years since the Act 1 tax relief program became law is a dramatic expansion of casino gambling across Pennsylvania, with various table games sharing floor space with the slot machines.
What we haven’t seen, and aren’t likely to see, is anywhere near the $1 billion touted by Rendell. In the six years since Act 1 was instituted, annual revenue has been fairly consistent in the $611 million-$616 million range. That’s meant less money for property tax relief. And the latest figures aren’t promising. Even though there are more casinos operating than ever, slot revenue declined for the fifth straight month in April and is down 4 percent from a year ago.
Meanwhile, money pulled in from table games is growing. The problem: That revenue is not figured into the tax relief calculations.
The amount of the tax credit has never been a huge sum, but it figures to be even less in most area school districts for 2013-14. The biggest loser this year is Council Rock School District, where taxpayers will receive a projected $249 reduction compared with $281 last year. Quakertown taxpayers will actually get $5 more taken off their tax bills; almost every other district in the region will see less relief.
State Rep. Tina Davis, D-141, said, “The people I talk to are disillusioned.” Most taxpayers probably are. With high property taxes one of the more universal complaints about state government, it’s difficult not to be disappointed with the limited impact slot machine revenues have had.
To prevent property tax help from diminishing further, Davis, who serves on the House Gaming and Oversight Committee, has introduced a bill to establish guidelines and regulations for online gaming in the state. She says she’s “not trying to promote more gambling” — hard to see her logic there — but rather “trying to get more revenue for Pennsylvania.” And protect the state’s interests, since New Jersey and Delaware have already approved online casino gambling. Under Davis’ plan, some of the proceeds would go to property tax relief.
Sooner or later, lawmakers will have to concede there’s only so much revenue to be raised through gambling — the money is already spread thin among competing states. Then, maybe they’ll start work on serious property tax reform.
Pa. slots revenue down for 5th straight month
Businessweek
PHILADELPHIA (AP) — Gross revenue from slot machines at the state's 11 casinos declined for the fifth straight month in April, down 4 percent from the same period the year before, state gambling regulators reported Thursday. Casinos brought in $205.2 ...
Pennsylvania Slot Machine Revenue Figures for April Released on Gaming ...
Wall Street Journal
HARRISBURG, Pa., May 2, 2013 /PRNewswire-USNewswire/ -- The Pennsylvania Gaming Control Board reported today on its web site that the collective slot machine revenue produced at the 11 casinos during April dropped 4% compared to April of last year ...
Pa. Slots Revenues, Down Again From 2012, Generate $612M in Tax Relief
KYW Newsradio
Pa. Slots Revenues, Down Again From 2012, Generate $612M in Tax Relief. May 3, 2013 4:13 AM. View Comments. (Slot machines in the Sugarhouse casino, on North Delaware Avenue in Fishtown. Credit: Michelle Durham). KYW Newsradio On Demand ...
Pa. slots revenue down for 5th straight month - WTRF 7 News Sports Weather ...
WTRF
PHILADELPHIA (AP) - Pennsylvania gaming regulators say gross revenue from slot machines at the state's 11 casinos fell 4% last month compared to April 2012, marking the fifth straight such monthly decline. The Pennsylvania Gaming Control Board is ...
Pennsylvania slot revenue falls in April
Pocono Record
Last month, the state's slot machines generated $205 million in revenues, yielding $110 million in taxes for the state. April 2012 slot revenues reached $214 million among its 11 casinos operating. Mount Airy saw its slots revenue fall 4.2 percent to ...
Pennsylvania Slot Machine Revenue Figures For April Released On ...
The Pennsylvania Gaming Control Board reported today on its web site that the collective slot machine revenue produced at the 11 casinos during April dropped ...
gamingcontrolboard.pa.gov/?pr=516
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