Dear fellow tax hikers, bad news on the homefront as Hamilton County has lowered their casino revenue estimates. This marks approximately the 17th time these casino projections have been revised downward.
The original casino tax revenue projections anticipated $20 million/year to the City of Cincinnati and at least $11 million/year to Hamilton County. Now Cincinnati only expects $10 million/year and Hamilton County's predicted take is down to $5 million/year or less.
We do not understand how this could have happened. Those predictions were vetted and endorsed by the legendary U.C. Economics Department. Those people are fantastic! They also told us the stadiums and Freedom Center were going to be economic bonanzas and obviously they were correct.
Just because the U.C. Economics Department's predictions regarding the casinos have fallen apart within a couple years doesn't mean you should doubt their glowing streetcar predictions. We can trust that their rosy projections about the streetcar going three decades into the future are accurate. In fact, CityBeat declared that UC's economic projections about the streetcar are beyond dispute. The issue is settled. UC's streetcar projections, going decades into the future, are accurate, even though their casino projections were laughably inept.