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Tax rates floated for 2 new casinos near New York City


Updated: SEPTEMBER 13, 2016 — 5:07 PM EDT

by WAYNE PARRY, The Associated Press

ATLANTIC CITY, N.J. (AP) – State voters are being promised that millions of dollars in new funding will flow to programs for senior citizens and the horse racing industry and to help a struggling Atlantic City if they approve a ballot question authorizing two new casinos near New York City. But what they’re not being told is what tax rate the new casinos in the northern part of the state would pay or how much new money would be available.

On Tuesday, a state lawmaker proposed specific tax rates for the new gambling halls. Assemblyman Ralph Caputo told The Associated Press a casino at the Meadowlands Racetrack might be taxed at 35 to 40 percent while a costlier one in Jersey City could pay 15 to 20 percent.

“We’ve lagged behind in terms of being transparent,” said Caputo, a northern New Jersey Democrat and former casino worker. “There’s no use kidding anybody about that. The tax rate needs to be established.”

The proposal came as pro- and anti-casino expansion forces are pouring millions of dollars into ads in the nation’s most expensive media market to influence the outcome of the November referendum.

9 thoughts on “Tax rates floated for 2 new casinos near New York City

  1. Mana from heaven, pie in the sky, it is all bulls—.

  2. They’ll get more money with this regressive sin tax and then piss it away as usual

  3. Why would northern nj want this and where will they build it?

    I went to a casino once. I did not find it to be glamorous, it seemed sad. I will never go again.

  4. Anyone else get the mailers from “Trenton’s Bad Bet”? No substance whatsoever, just “Trenton always gets it wrong, don’t let them put casinos in North Jersey” and some stock photos of stern looking average people. So I thought, who would pay to send a thing like this? No succinct argument against casinos in North Jersey, explanation other then “Bad Trenton!!!”. So I looked up “Trenton’s Bad Bet” and apparently Atlantic City has their hands all over it. So naturally, I’ll be voting for casinos in North Jersey, even though I’ll rarely go to one. Don’t insult my intelligence, Atlantic City Chamber of Commerce.

    1. yes just like Xanadu another winner from Trenton

  5. Casinos in NJ are a bad idea. We have 40 years of promises and failure to examine from tragic AC experiment. Build a climate for real jobs & careers and tax revenues will follow instead of crime, broken families and bankruptcies.

  6. Kill this northern NJ casino.

  7. Trenton commissioned the Xanadu fiasco? Funny, I thought that was The Mills Corporation, which went bankrupt, then Lehman, which also went bankrupt. If you’re going to out people for “lying” then at least try to be honest yourself, James.

    1. nice try ,sorry wrong the Sports Authority commissioned the mall built with public money with the help of Gov “Jim” McGreevey , even by New Jersey standards totally stupid as well as its supporters

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