New Jersey lawmakers are considering a bill that would divert a 1.25% tax on sports betting that currently goes to promote Atlantic City, directing it instead towards local property tax relief.
A state Senate committee on Thursday advanced a bill that would divert a 1.25% tax on sports betting that currently goes to the Casino Reinvestment Development Authority to promote Atlantic City.The amount at issue is about $2 million a year, according to the bill's sponsor, Sen. Troy Singleton, a southern New Jersey Democrat.
“Everyone in this room, and there are about 25 of us, can drive to Atlantic City,” Small said."Once we park our car, that's parking tax. We go to the bar and buy a drink, that's luxury tax. We go into our room, that's the room tax. We go to a late-night show, that's luxury tax again. Then we make a sports bet; that's sports betting tax.
State Sen. Vincent Polistina, a Republican representing the Atlantic City area, said the city receives ample tax relief under a revised payment in lieu of taxes bill approved by the Legislature in December.
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