DC Boosts Verizon Center Ticket Tax To Cover $50M Upgrade
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Tax Rate On Tickets, Merchandise Purchases
At Verizon Center To Increase To 10% |
The tax rate on tickets and merchandise at Verizon Center will increase to 10%
from 5.75% as “part of a plan to pay for $50[M] in renovations at the sports arena
under a bill approved” Thursday by the DC Council, according to Nikita Stewart
of the WASHINGTON POST. The plan includes the issuing of bonds to cover “major
upgrades” at the arena. Wizards Owner Abe Pollin had requested the money, saying
that he “could not afford to pay for the improvements himself.” Stewart notes
Pollin still owes $110M on money borrowed to build the $220M arena. Pollin has
agreed to give DC a “rent-free 24-seat luxury suite with numerous amenities and
a clear view of the floor.” DC Council member Jack Evans said, “It’s very important
that we keep the Verizon Center a first-class facility, and the $50[M] will go
a long way” (WASHINGTON
POST, 4/20).
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