Visitors to Cobb County in 2022 paid more to offset public debt payments on the Atlanta Braves stadium than in prior years as tourism returned to pre-pandemic levels, officials reported to the Board of Commissioners Tuesday.
Bill Volckmann, the county’s chief financial officer, said the travel rebound helped reduce the debt costs borne by Cobb taxpayers. And for the first time since debt payments began, the property taxes paid by the Battery covered the county’s entire contribution from its general fund with about $400,000 to spare.
“This has been a huge success in 2022,” Volckmann said to the board. “We have achieved a milestone moment.”
In all, Cobb County contributes $16.4 million a year toward the debt service on the $300 million stadium bonds, using a mix of general tax revenue, a special property tax on Cumberland-area businesses, and taxes and fees predominantly paid by visitors for car rentals and hotel stays. The Atlanta Braves pay the county $6.1 million a year to rent Truist Park, for a total debt payment of $22.5 million.
In 2022, Cobb’s hotel-motel taxes contributed $3.5 million toward the county’s debt payment, surpassing even 2019 levels after a significant drop during the pandemic. The county’s general fund paid $2.1 million toward the annual debt service, about a third of initial projections and less than the $4.8 million paid in 2021. Cumberland-area businesses, however, have consistently shouldered a higher burden through the district’s special property taxes.
While visitors are contributing more through hotel taxes, Cobb is still relying heavily on commercial property taxes from the Cumberland Special Service District, which went up to $8.5 million in 2022 — over $3 million more than originally projected.
The county government also bears other costs associated with the stadium, including policing and traffic control outside of the stadium, a notable difference from the team’s agreement when it played at Turner Field in the city of Atlanta. Around the country, most other local governments require sports teams to chip in for the costs of securing events.
Kennesaw State University economist J.C. Bradbury, a prominent critic of the stadium deal who has researched the fiscal impact of publicly financed sports projects like Truist Park and the Battery, said the county’s analysis doesn’t reflect an accurate accounting of the project.
“I see nothing in these numbers to suggest that the stadium project is not a fiscal burden on Cobb taxpayers,” Bradbury said. “Yes, property values are higher, but they are higher throughout the Atlanta area in places without a stadium.”
County officials and Braves representatives say they are optimistic the upward trend in tax collections will continue.
“The Braves have continued to generate financial impact for the region and state in addition to creating a vibrant community,” the Atlanta Braves said in a news release.
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