It's been all over the news lately: How will Indianapolis fix the Capital Improvement Board's $46 million deficit? Most of the talks have centered around taxes. It has now fallen on downtown Indianapolis hotels, and all Marion County hotels, to help fund the ailing CIB.
Hotel taxes in Marion County will increase from 9% to 10%. This will make total taxes paid on a hotel room 17%. From hotels near Indianapolis Convention Center to hotels near the Indianapolis Airport, east, west, north or south will make that jump on September 1, 2009. This means that $99 rate will be $115.83 instead of $114.84 - not a huge difference right? The $199 rates during races at the Indianapolis Motor Speedway will now be $232.83 instead of $230.84...again, not a large difference.
There is a lot of media hype about Indianapolis being one of the nation's highest in hotel tax. That is a fact but look what little difference it makes. We all have to roll with the punches sometimes and make changes when it comes to supporting and improving our city. This is just one thing Marion County will be doing to help the CIB.
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