Property Taxes

Property Taxes = $ MILLIONS MORE:

Casinos are almost always the highest property tax payer in their counties. These taxes cover their infrastructure needs and more, allowing gaming revenue directed to the county to be net positive income.

Collections from a casino resort’s real property tax and personal property tax are NOT considered in the financial projections from the feasibility study. Property tax payments and Local Distribution Agreements contribute large amounts of additional financial support to a community outside of the gross gaming revenue taxes allotted to the county.

Abatement research for Indiana’s newest casino, Terre Haute, 2022 :

The developers of the Queen of Terre Haute Casino Resort did not seek or receive property tax abatements. Churchill Downs Inc., the property’s owner, committed to paying full local taxes on the $250+ million development to generate significant revenue for the city and county.

“Typically, when we get a large factory, we provide incentives such as tax abatements. But in this case, they’re going to invest $250 million, not ask for any incentives, and pay their taxes. All that money comes back here locally. We benefit better than we would from any factory.” Duke Bennett-Terre Haute Mayor

While typical local economic development incentives, such as tax abatements, are sometimes used to attract large factories, city officials specifically highlighted that the casino project bypassed this process. Instead, the facility contributes to substantial municipal funding, bringing in millions annually that support local infrastructure like street paving, sidewalks, and park upgrades.

Tax abatements are entirely uncustomary for casino resort developments and have not been considered for Steuben County. Developers do not consider them in their projections or proposals as they would make for a less competitive bid. They are so uncommon that the only cases of tax breaks in Indiana are from a casino-affiliated hotel placed in a TIF district in East Chicago in 1999, long expired, and a 2009 federal tax credit for historic preservation in French Lick.

Sources- Indiana Business Journal: https://www.ibj.com/articles/betting-on-a-queen  https://www.ibj.com/articles/terre-haute-casino-opening-friday-city-ready-to-capitalize

Inside Indiana Business: https://www.insideindianabusiness.com/articles/terre-haute-casino-on-track-shows-promise-for-continued-community-development