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City owned facilities where the leasee pays property taxes:
- Mexcal pays property taxes in their leased space downtown in the city owned parking garage
- Luciano's pays property in their leased space in city owned Union Station
Why then are:
- Madison not going to pay property taxes when they lease the city owned parking garage
- WooSox not paying property taxes on Polar Park
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Comments
A lease is an interest in real estate in an interest in real estate is taxable, even if the owner is a tax exempt entity. Think of a cafeteria in a tax exempt college which is run by a private catering company as a concession.
Mezcal and Luciano’s are apparently not in the old boys TIF/giveaway club so they were not allowed to structure their deals that way. They were treated like the rest of us average taxpayers having to pay there their share. Actually, since it is the commercial rate it is more than twice as much as their fair share.
I wonder how much real estate tax money was given away by the city on the ball park in the Madison properties development?