A proposed tax on slot machines to be operated at Pompano Park Harness Track in Pompano Beach, Florida, is likely to be reduced from $250 to $50. Today, Pompano Beach authorities will try to force racetrack operators to pay a fee on each and every future slot machine at their venue for the second time in a month. Two weeks ago, when the proposal was first introduced, track officials convinced C. William Hargett Jr., the city manager, to postpone the authorization of a $250 city fee. Hargett, through a spokesperson, reportedly said that the city leaders should cut the originally-proposed fee to $50, in order to more accurately reflect the real cost of slots regulation.
Although the final figure is likely to rest at $50, city officials still see the original cut as the city's best bet. Officials have calculated that, if the track decides to install 1,500 machines, a $250 occupational tax would bring Pompano Beach $375,000 in taxes each year.
The plan for the occupational fee leaves unchanged an additional agreement reached last year, under which Pompano Beach will collect 1.7% of all revenues produced by slot machines, translating into a projected $2,875,000 annually. Track executives were reported as saying they believe slots would begin operation by the end of 2006, after the completion of the 157,000 square-foot "racino" project.
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