Tax revenues generated by Target Field, the new home of the Minnesota Twins, were significantly higher in 2010 than in 2009, when the team wrapped up a final season in the Metrodome.
How much higher? Well, the state of Minnesota pulled in $11.6 million from fans at Target Field, $6.6 million higher than in 2009. The city of Minneapolis pulled in $6.3 million in 2010, as compared to $900,000. Most of that increase came from a 3 percent entertainment tax on Target Field tickets, which was not assessed on games at the Metrodome.
In addition, Hennepin County collected $254,000 from sales taxes generated by the ballpark. A half-cent increase in the Hennepin County sales tax is a prime source of revenue for paying off ballpark-construction bonds.
The irony, of course, is that the state didn’t contribute a red cent to the project yet is enjoying a significant windfall. The city of Minneapolis did contribute, and the money from the entertainment tax is slated to address that debt.
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