The Cobb County Tomahawk Tax calls for $300 million dollars in taxes for Cobb residents including a 3 percent countywide car rental tax, an additional fee on the hotel-motel tax in the county and a new tax on property owners within the Cumberland CID, not to mention the on-going maintenance cost-sharing for the new stadium. The bulk of the funding comes from a reallocation of property tax revenues starting in 2017 to cover existing bond payments for 30 years. Historically, such bond deals have often caused a spike in millage rates to local property owners if the project doesn’t return on its projected revenues. Analysis of publicly funded sports stadiums over the decades reveals that they rarely return on the investment of taxpayers.
The bottom line: leveraging local taxpayers to fund professional sports stadiums is a waste. We’re not here to guarantee profitability for the Atlanta Braves. Sports teams should pay for their own facilities and not bilk taxpayers in the dead of night simply because its faster than raising private capital and the down side risk is covered by the taxpayer.
When: THIS Thursday, November 21st, 7:00pm-8:30pm
Where: Senior Wellness Center, 1150 Powder Springs Street, Marietta GA 30064
What can you do to stand for your own bottom line?
1) Send a letter to your district commissioner here and urge them to vote NO on the “Tomahawk Tax”
2) Share the letter with friends by email and on your Facebook page and encourage them to send it to their commissioner.
3) Show up at Thursday night’s commission town hall (details below) and voice your opposition
4) Sign AFP’s “Say NO To Tomahawk Tax” Petition here and share it with friends and family. We’ll be sending it to the Commissioners in advance of Tuesday’s vote.