Tax Increase Yields $4.6M For Las Vegas Stadium In First Month
LAS VEGAS (AP) — Taxpayers contributed more than $4.6 million for an NFL stadium in Las Vegas during March, when an increase on area hotel taxes went into effect to cover the state's share of the project.
Preliminary figures provided local officials show the monthly tax collections for the stadium that the Oakland Raiders want to call home are above what officials had projected.
The tax increase approved by the Nevada Legislature last year is expected to eventually fund $750 million of the $1.9 billion project. The board overseeing the proposed 65,000-seat stadium expects the tax hike to bring in $14.8 million by the end of June. That's $3.7 million a month.
Tourists are paying