Tax windfall in Ohio estimated at $650M. a year
Governments in Ohio would reap nearly $650 million a year from taxes on the four casinos proposed in a November 3 ballot initiative.
That’s according to a state analysis published this week and cited by the Columbus Dispatch.
That estimate would, however, be revised downward if Gov. Ted Strickland is successful with his proposal for thousands of gambling machines at the state’s seven racetracks. Under that scenario, the casinos would generate $469.8 million in tax revenue, the analysis said.
Strickland, who opposes the casino measure, shelved his racetrack plan after the Ohio Supreme Court ruled that it would have to be put to the voters.
The current ballot initiative asks voters to approve casinos in Cleveland, Cincinnati, Toledo and Columbus.