Casino property tax may be slashed

How would you like your property taxes slashed in half? The Niagara Fallsview Casino Resort convinced property tax assessors to do just that. The casino claims the value of its property has plummeted 75 per cent. But now the rest of the taxpayers in Niagara region are going to be asked to pick up the difference.

When the Niagara Fallsview Casino first opened ten years ago it was billed as a billion dollar resort. Now the Municipal Property Assessment Corporation is saying the casino is only worth about 25 per cent of that.

2 COMMENTS

  1. Oddly, the OLG (AGCO) and MPAC are both bodies created by the Provincial government to handle alcohol and gambling, and the other is to handle property tax assessments. OLG’s representatives and MPACs representatives all work for the same organization, ONTARIO. If this is not ‘conflict of interest’ I do not know what is. When Microsoft was buying out all the small companies that were competing against them they were on the hook for ‘anti trust’ violations, this almost feels the same. The casino houses several restaurants and a hotel that will benefit from this ruling as they will see a portion of their rents decrease. Does the Hilton’s tax assessment go down as well? Does Copacabana get reassessed? If Chris Rudan owned MPAC and OLG absolutely would Copacabana’s property tax go down 75%.

Comments are closed.