County Revenues - The Numbers Changed Again!

MyOhioNow Casino Amendment requires that up to 30% of the gross casino receipts (the take) to be distributed in four categories:

a. 1% of the 30%  (or .3%) – problem gambling prevention and treatment programs

b. an amt. to be determined later by the General Assembly for admin. expenses of Gaming Reg. Commission

c. an amt. to be determined later to defray expense of collecting and distributing tax receipts

d. whatever amount is left over shall be shared on a per capita basis among the counties, with the exception of Clinton County, which will receive 10% of the left over amount before remaining counties split their share. (20%)

The following chart documents the projected county revenues (using information posted on the MyOhioNow website) and puts this revenue in perspective with operating revenues for six selected counties. The county revenue data was calculated using “Financial Condition” reports recorded with the State of Ohio Auditor.

If the projected casino tax revenues posted in January 2008 would be used to compare with the county’s fiscal condition reports, the percentages would be as follows:  Cuyahoga Co. (1.1% of county revenue); Franklin Co. (1% of county revenue);  Hamilton Co. (0.6% of county revenue); Knox Co. (1.5% of county revenue);  Pike Co. (1.2% of county revenue); Vinton Co. (0.9% of county revenue).

The per capita casino tax revenue projections on January 4, 2008 were less than $11.50 per person.

The per capita casino tax revenue projections on April 2, 2008 went up to $18.59 per person.

How did this increase happen? MyOhioNow just decided to increase their projections to try to persuade more people to vote for their proposal. But what if their projections are off? The people of Ohio lose again.