Smyth County Administrator Shawn Utt calls the windfall in gaming tax revenue from the first months of operations at the Bristol Casino a “blessing” for his county.
The money – now expected to total more than $700,000 for the first year of operation – might mean that county officials won’t have to raise the real property tax rate as high as expected to help pay to replace an old, outdated public safety radio communication system, he said.
The project is expected to cost $10 million to $15 million, and the casino money can go toward repaying that debt, he said.
That $700,000 is equivalent to about 5 cents on the property tax rate or about 7% of real estate revenues, said Utt, whose county budget for the 2022-23 fiscal year totaled $115 million.
