Miami, FL-Tax payers to pay property taxes on Miami Marlins new parking garages (they make the money you pay their bills)

Miami may have to pay property taxes on Marlins stadium garages

By Andres Viglucci and Patricia Mazzei The Miami Herald

 

The city of Miami may have to pay property taxes on the parking garages it is building for the new Marlins stadium — an unexpected wrinkle that could cost taxpayers millions of dollars.

When the city of Miami agreed to build parking garages for the new Miami Marlins stadium, borrowing $100 million in the bond market to do so, officials assumed the structures, like most such municipal facilities, would be exempt from property taxes.

That is now looking like a serious miscalculation that could not just upend the city's financing plan, but allow the Marlins to rake in profits from parking while city taxpayers eat a hefty, and unexpected, tax bill.

Read more: http://www.miamiherald.com/2011/11/21/2515040/miami-may-have-to-pay-property.html#ixzz1eV1Q0sk6