In 2007-8, the overall city budget was $23.8 million, including the $13.9 million General Fund budget. Other major fund areas include Special Reserve, Debt Service, and Capital Projects.

Revenues which fund the city’s General Fund budget come from a number of sources including: property taxes; sales taxes; franchise and other taxes (including wagering taxes); licenses and permits; fines; investment ...

Albany has long had a modest and stable budget, without the fiscal swings faced by many other communities. From time to time, taxpayers have elected to fund capital and operations expenses ...

The biggest source of tax revenue, overall, comes from property taxes, which are generated from both residential and commercial properties. Property taxes contributed 35% of General Fund revenue in 2008. Other ...

In 2007-8, GGF (MEC) paid $1,064,702 in taxes to the city of Albany. This represented approximately 7.7% of the city’s General Fund budget.

Golden Gate Fields (MEC) generates taxes for the city through property taxes, sales tax, business license fees, and wager taxes. There are two types of property taxes: ad valorum and parcel ...

Golden Gate Fields (MEC) 2007-8 tax revenues to the city of Albany: Total Property Taxes: $637,745 [ad valorum ($163,978); parcel taxes ($473,767)]; Sales Taxes: $69,000 (approximate); Wagering Taxes: $357,457

Tax revenue paid to the school district is based on property tax collections, and is separate from taxes paid to the city. In 2007-8, property tax revenue from GGF (MEC) paid ...

In 2007-8, Golden Gate Fields (MEC) paid parcel taxes of $87,474 (included in total parcel taxes noted above) to fund the library.

Tax revenues fluctuate based on changes in assessed property value and changes in wagering and sale of merchandise at the racetrack. In recent years, attendance at racetracks around the country, including ...

According to the city’s 2008 Comprehensive Annual Financial Review (CAFR), real property within the city comprises more than $1.7 billion in taxable assessed value. The GGF property is first in the ...

Several other property owners pay substantial property taxes. In 2008, Target Corporation was another large property taxpayer (1.71% of assessed value.) Other top taxpayers paid from .1% to .41% of total ...

Yes. Declining attendance does have an impact on wagering tax revenues, though these taxes have fluctuated over the years. In 1995, wagering tax revenues to the city of Albany were more ...

A property such as the 102-acre site owned by MEC (GGF) is difficult to value. It includes a racetrack and open land, and is located directly on the San Francisco Bay, ...

Magna Entertainment Corporation (MEC), the owners of Golden Gate Fields, filed for bankruptcy on March 5, 2009. In the initial filing with the SEC, the company announced an agreement to sell ...