Anyone else want to join me in a hearty "We Told You So!"

[CornField]

From today's Cedar Rapids Gazette -- http://www.crgazette.com/ -- unfortunately, you need to have a paid subscription to read it all.

"Casino property tax bonanza going bust?"

Months before the first dice are rolled, the first coin swallowed by a slot machine at the Washington County Casino and Resort, some property owners think they're being dealt a losing hand. It appears the property tax bonanza expected from the $50 million development under way east of Riverside won't materialize for at least 10 years and, perhaps, never.
...
‘‘Everyone voted for jobs and tax relief,’’ Washington, Iowa, banker Dale Torpey, a casino opponent, said, referring to the county’s gambling referendum in September 2004. It was approved 4,095 to 3,743. ‘‘The jury’s out on the jobs, and we’ve seen what happened to the tax relief.’’
...
County Auditor Bill Fredrick thinks there are a lot of misconceptions about the TIF. ‘‘I’m not saying this is a utopian plan, but I don’t think the impact will be as big as people think,’’ he said.

Some people question whether the TIF is necessary, Fredrick said. ‘‘I think what people are mad about is that normally when you do a TIF you do it to encourage growth that wouldn’t otherwise occur,’’ Fredrick said. ‘‘But the casino is coming no matter what.’’
...

[rurallib]

1. There are only so many people in Iowa

We don't all gamble, so them that do have to do a lot of it to keep all the casinos in business. I don't even know where they all are. I know Tama and that the QC has what 4 boats? Don't Waterloo and Dubuque have something - dogtracks or casinos. DesMoines has the horses or are they gone? Does DM have casinos?.
My point is that there is already plent of gambling to go around. Riverside would need to really something special to make a haul at which time all those others would go in the dumper. I thought they were nuts to to go for it to begin with. Plus gamblers don't enrich an area. They go to gamble and then leave. Muscatine learned that early.
Why do politicians and leaders(?) look at gambling as a savior? It almost always creates more problems than it solves.

[pstans]

2. Des Moines and Tama info

Des Moines has Prairie Meadows which has horse races and slot machines.

The casino near Tama is going through its second large addition in the past 5 years where they have added more gaming room, a hotel, and a place for concerts and shows.

There is also a riverboat near Osceola located on a small man made lake just off I35. They had to make the lake in order to put the casino because it had to be on water.

(Sorry, Ed Fallon plug coming up!)
TIF's districts are one of the issues that Fallon is running on. He says that they are being used too often and they are taking money from education that has to be made up by everyone else.

From Fallon's website
http://www.fallonforgovernor.net/issues/details.asp?issueID=24

More and more, I hear from people on fixed incomes who are losing their homes because they can no longer afford the ever-increasing property tax burden. The first step towards reform is to end abuses of tax increment financing (TIF) and tax abatement, which cause more of the tax burden to fall on homeowners and small businesses. Additionally, the state should take a serious look at instituting some form of land value taxation, shifting the basis of the tax assessment from property improvements to the land. The current system effectively rewards a slum lord, for example, who allows his property to become run-down. Conversely, the current system penalizes responsible property owners who invest in and improve their property. This warrants consideration. Looking at the manner in which land value taxation has been used in other states, particularly Pennsylvania, would be very helpful in any property tax reform effort.

[Bluzmann57]

3. In the Iowa QC's we have two casinos

There is also one right across the river in Rock Island. I truly cannot believe that they are all still open. We are a metro area of around 325,000 people, but not everybody gambles. There are a lot of out of towners that come in, but nearly every city of any size in America has a casino now, so the out of town business may not last forever either. I believe that politicians look at gambling as a "savior" because they can tax it and get away with it. If a person wins big at a casino, about 40% is taken right off the top. Now I have nothing against gambling, in fact have been on the boats occasionally, but it doesn't seem to have a huge positive impact on the area. A taxpayer funded skywalk to nowhere because the casino wanted it, the destruction of a beautiful Mississippi River view because of the casino, some prime riverfront property being sold cheaply to the casino because they want a new hotel, the old one isn't good enough for them. Not a lot of positives from my viewpoint.

[Blue Gardener]

4. Dance with the Devil

And this is what they get in return. This casino was a horrible idea from the beginning. The troubles have just begun I'm afraid.