Saturday, January 22, 2000
Cleveland to seek exemption on tax payments on stadium
The Associated Press
CLEVELAND — The city, which pays property taxes on Cleveland Browns Stadium under a lease agreement, will seek a tax exemption under terms of state law, Mayor Michael R. White said Friday.
The city paid $376,808 in taxes on the stadium and land in 1995 and the estimated 2000 taxes on just the land will be about $392,000 because of increasing waterfront property values.
If the exemption is approved, the city will be able to redirect the tax payments to city services, Mayor White said.
Baseball's Jacobs Field and basketball's Gund Arena already have tax exemptions under state law, Mayor White said.
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