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Red Mile TIF Payments Revealed
The Red Mile’s tax-increment-financing district has quietly cost Kentucky taxpayers over $2 million in just five years — mostly from payroll taxes funneled back to the track, with KRM Wagering, LLC footing the biggest bill. Despite a Supreme Court ruling and legislative tweaks that legalized historical horse racing, the state continues using an outdated, higher tax rate to calculate payouts, leading to overpayments in some years — including a whopping $2.16 million in 2024. This rare glimpse into the numbers behind Kentucky’s secretive TIF system reveals a pattern: billions pledged statewide…
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