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Foxwoods tax appeal rejected21 June 2007PHILADELPHIA, Pennsylvania -- As reported by the Philadelphia Inquirer: "The investors planning the Foxwoods casino in South Philly say they made a 'gamble on gaming' when they paid $64.7 million in 2005 for their proposed location on the Delaware riverfront. "The city wants that gamble to pay off now, not later. "The Board of Revision Taxes this week rejected Foxwoods' appeal of its property tax bill, which increased from $277,670 in 2005 to $1,377,641 last year. "Board members, in a June 7 hearing, scoffed at Foxwoods' claims that the 18.5-acre parcel on Christopher Columbus Boulevard at Reed Street is worthless until a slots parlor is built there..." |