The town of Bethlehem, Pennsylvania, once famous for its steel plant, could benefit greatly if the sale of the Sands Casino Resort Bethlehem goes through with MGM Resorts International as the buyer. The sale is as yet unconfirmed.
When the casino opened in the town eight years ago it helped revive the local economy through jobs, taxes, host fees and customers who spread the wealth.
It will gain even more if the reported purchase deal of $1.3 billion goes through. The state charges a 2 percent deed transfer tax, split between the state and the town where it happens, which could mean a big windfall for the town and its school district.
It’s the largest sale that the Northampton County recorder of deeds remembers in her 30-year career.
Because there are several different formulae for calculating the tax the town of Bethlehem isn’t counting its chickens yet. However, considering that its annual budget is $74 million, the taxes will make a significant contribution, possibly around $1 million.
The city may offer a small tax refund to residents, or set aside the money for a rainy day.
The school district is projecting that it will collect about $2.4 million.
