Lower-than-anticipated receipts and a diminished return on investments may force the Miller Park stadium district to extend a regional sales tax by four years.
Lower-than-anticipated receipts and a diminished return on investments may force the Miller Park stadium district to extend a regional sales tax by four years.
The 0.1 percent sales tax in Ozaukee, Washington, Waukesha, Milwaukee and Racine counties was originally scheduled to sunset in 2014. But sales-tax receipts are down in recent months, and the recent economic downtown has diminished the rate of return on the district’s investments. Therefore, with less money rolling in to pay off Miller Park debt, the board is looking at extending the sales tax through 2017 or 2018.
This won’t need to be decided now; if the economy rebounds, then the sales tax could be scrapped on time. Currently the board owes $284.4 on Miller Park bonds, with $292.6 paid out so far.
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