The latest federal tax bill passed in Washington…will end up costing the taxpayers of Sarasota County. Earlier this month, the county took out 21.6 million in bonds to help pay for the Braves’ new Spring Training home in North Port. There’s just one problem. Under the new tax bill, a provision allowing for federal subsidies of stadium construction…was eliminated. That now means the county is on the hook, 100 percent, for the debt. The kicker? The bonds were sold on December 13th. 48 hours later, the US Senate removed the provision for federal funding. Now, thanks in part to inauspicious timing -and the bill itself- Sarasota Co taxpayers will be on the hook for the entire debt as well as the finance charges on tax-exempt and taxable bonds.
