The way casinos are taxed in Ontario might be changing, which could impact Chatham-Kent’s coffers.
Mayor Randy Hope is concerned that if The Ministry of Finance decides to go with the Cost Method – which assesses a gambling facility based on the cost of the building – that the municipality will be losing out on significant tax dollars.
Council prefers the Discounted Cash Flow model, which taxes a casino based on how much money it pulls in.
Hope and Chatham-Kent Councillors are sending a letter to the Minister of Finance outlining their concerns.