Here’s an effective way to generate taxpayer money without impacting local taxpayers. Impose a tax on the visitors instead.
Via the Tennessean, a Nashville hotel/motel tax of six percent (and maybe seven percent) could raise over 20 years the $700 million that the city would contribute to the project. The current negotiation occurring within the Tennessee statehouse reportedly includes $700 million from the city, $700 million from the Titans, and $500 million from the sale of bonds.
That adds up to $1.9 billion. Which should result in some impressive stadium.
The hotel/motel tax would minimize the impact of Nashville residents by imposing the price tag on those stay in local hotels and motels. That said, Nashville residents who attend games surely will account for a portion of the team’s contribution, either through ticket prices or Personal Seat Licenses, if the Titans implement the ultimate money-for-nothing funding mechanism.
Regardless of how it happens, the Titans are poised to eventually become the latest team to get a major public contribution to the construction of its football stadium.
