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December 5, 2009

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Editorial: Right trade-off for healthy tax break

Friday, Aug. 21, 1998 | 10:08 a.m.

The 1997 Legislature passed a tax break allowing an exemption on personal property taxes and sales taxes for art that costs more than $25,000 and is put on public display. Steve Wynn had sought to qualify for $15 million in tax breaks the first year and almost $3 million a year after that.

One sticking point between the commission and Wynn has been whether a $10 admission fee should be allowed. Wynn says a charge is necessary to recover the costs of security and displaying the rare artwork. Any fees left over would go to charity.

If a person did not seek a tax break for art, then the government would have no business deciding whether there should be an admission fee. But the Legislature's intent in granting a tax break was that the art should be put on public display.

After Wynn voiced his objections, commissioners said they may reconsider their decision at their Oct. 5 meeting. But the commission should stick to its original ruling and maintain the required free admission.

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