 Does hosting a professional sports team benefit the local community? Evidence from property assessmentsEconomics of Governance, 2022, vol. 23, issue 3, No 3, 219-252 Abstract: Abstract Local governments often justify subsidizing sports stadiums as economic development projects that have positive returns on investment. If this is true, economic and quality-of-life spillovers that are capitalized in local property values ought to generate additional tax revenue for host municipalities through increased property assessments. This analysis uses the synthetic control method to estimate the effect of a new publicly-funded professional baseball stadium and team relocation on property assessments in Cobb County, Georgia. Cobb assessment values did not increase relative to other metro-Atlanta counties following the stadiums’ announcement or opening, which is inconsistent with the stadium having a positive fiscal impact, even with its desirable location and accompanying mixed-used development. The findings are consistent with past economic studies and are likely generalizable to other stadium projects. Keywords: Sports stadiums; Local economic development; Social benefits; Property values; Property taxes; Synthetic control method (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:spr:ecogov:v:23:y:2022:i:3:d:10.1007_s10101-022-00268-z Ordering information: This journal article can be ordered from DOI: 10.1007/s10101-022-00268-z Access Statistics for this article Economics of Governance is currently edited by Amihai Glazer and Marko Koethenbuerger More articles in Economics of Governance from Springer |
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