Tax Rates Announced for 2 new proposed Casinos Near Atlantic City

There will be a ballot that will decide whether or not to authorise two new casinos near New York City. The promise on the other side is that if it does get authorisation, then millions of dollars will, over the years be injected into Atlantic city, several programs for senior citizens, and the horse racing industry in these parts.

Earlier this week, the state made proposals for these new centres. The two locations in question here are the Meadowlands Racetrack, and one in Jersey City. The tax rates as of now that will be charged, according to Ralph Caputo- a local assemblyman, will be 35 to 40% for the Meadowland and between 15% and 20% for the one in Jersey. In the press meet that followed, he said that there has been a lack of transparency and that the tax rate really needs to be established right away. Caputo is a Democrat and a former casino worker.

The announcement came in at a time when many millions of dollars were being poured into ads that were arguing the pros and cons of more casinos in the region. There are both pro casino as well as anti- casino activists in the state. The referendum was authorised to be possible in March this year and will be held in November, close to the US presidential election. The biggest issue that it faces, however, is that the details, locations, taxes, and other specifics are unlikely to be ready before the ballot happens in November. The authorities are still working on them and the talk around it is along the lines of people not really paying attention to the issue at hand and that added information is of no real help. As of now, Atlantic city’s casinos pay 8%.