The Indianapolis Colts are playing defense as city leaders move to hike a ticket tax on downtown events by 67 percent.
The team says raising the tax on tickets from 6 percent to 10 percent will harm its bottom line and that of local businesses that rely on Colts fans. The tax is levied on events at Lucas Oil Stadium, Bankers Life Fieldhouse, Victory Field and the Indiana Convention Center.
The tax would add more than $3 to the average Colts ticket, which now costs about $88, said Colts Chief Operating Officer Pete Ward. Season ticket holders on average would pay $30 more for 10 games, even though the team has kept base prices steady since 2010. Prices on the stadium's most expensive tickets would rise more than $11 per game.
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The tax increases are part of a budget deal between Republican Mayor Greg Ballard and Democratic leaders on the City-County Council including President Maggie Lewis. The deal, which restores $32 million for county agencies Ballard had vetoed, also would raise the total tax on car rentals to 17 percent.
A council committee approved the proposal Tuesday night. A final vote on the tax increase is set for Jan. 28.
City leaders have said the increases are essential to secure the fiscal health of the city and Capital Improvement Board, which owns the city's sports venues and convention center.
The first year's extra tax revenue, an estimated $6.7 million, would flow to the city's general fund to close a budget deficit. After that, 25 percent of the tax money—up to a maximum of $3 million—would go to the city’s coffers each year, and the rest would go to the CIB. The CIB also will pay $5 million for public safety services this year.
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The Indiana Pacers have not taken as vocal a stand against the ticket-tax increase, perhaps since the CIB agreed late last year to pay $10 million to help Pacers Sports & Entertainment run the Fieldhouse, extending an expired three-year deal. The team keeps all revenue from events at the stadium.
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http://www.ibj.com/colts-trying-to-tackle-proposed-ticket-tax-hike/PARAMS/article/39028
The team says raising the tax on tickets from 6 percent to 10 percent will harm its bottom line and that of local businesses that rely on Colts fans. The tax is levied on events at Lucas Oil Stadium, Bankers Life Fieldhouse, Victory Field and the Indiana Convention Center.
The tax would add more than $3 to the average Colts ticket, which now costs about $88, said Colts Chief Operating Officer Pete Ward. Season ticket holders on average would pay $30 more for 10 games, even though the team has kept base prices steady since 2010. Prices on the stadium's most expensive tickets would rise more than $11 per game.
...
The tax increases are part of a budget deal between Republican Mayor Greg Ballard and Democratic leaders on the City-County Council including President Maggie Lewis. The deal, which restores $32 million for county agencies Ballard had vetoed, also would raise the total tax on car rentals to 17 percent.
A council committee approved the proposal Tuesday night. A final vote on the tax increase is set for Jan. 28.
City leaders have said the increases are essential to secure the fiscal health of the city and Capital Improvement Board, which owns the city's sports venues and convention center.
The first year's extra tax revenue, an estimated $6.7 million, would flow to the city's general fund to close a budget deficit. After that, 25 percent of the tax money—up to a maximum of $3 million—would go to the city’s coffers each year, and the rest would go to the CIB. The CIB also will pay $5 million for public safety services this year.
...
The Indiana Pacers have not taken as vocal a stand against the ticket-tax increase, perhaps since the CIB agreed late last year to pay $10 million to help Pacers Sports & Entertainment run the Fieldhouse, extending an expired three-year deal. The team keeps all revenue from events at the stadium.
...
http://www.ibj.com/colts-trying-to-tackle-proposed-ticket-tax-hike/PARAMS/article/39028
