INDIANAPOLIS – The Indianapolis City-County Council on Monday approved a tax hike to admissions to downtown events and on rental cars. The Admission Tax will go from six percent to 10 percent.
The tax is levied on events at Lucas Oil Stadium, Bankers Life Fieldhouse, Victory Field and the Indiana Convention Center and does not apply to not-for-profit events.
"While we always strive to keep our ticket prices affordable for the Indianapolis market, we understand the purposes of the Admissions Tax increase and trust in the Mayor and the City-County Council to do what is best for downtown and our community," said Colts Chief Operating Officer Pete Ward.
The tax hikes could generate nearly $7 million for the city's general fund this year. Future monies should go to the Capital Improvement Board, the entity that operates the venues.
CIB officials claim the added revenue will cover future operating expenses.