Philadelphia-area casino implies its corporate philanthropy should offset its property tax assessment, but Rick Cohen is less sure.
"We’re not saying that the Parx Casino is saying this, but you can almost hear it in the subtext of this article from the Philadelphia Inquirer: .Reduce our local property tax bill, because (in part) we do a lot of charitable giving in the community.' Corporate philanthropy has long been one of the kickers offered by casinos to get state and municipal government approval to set up their gambling halls, sometimes even built into the licensing procedures of the states. In Bensalem Township in Bucks County, Pennsylvania, the Parx Casino owns property with a market value of $426.1 million, with an assessed value of $54.1 million and an annual tax bill of $10.1 million. Parx doesn’t like the assessed value on a 411-acre parcel it owns and has gone to court asking for a significant reduction that would cost the township $1.9 million in tax revenues." -- Rick Cohen, Nonprofit Quarterly