Need I say more? I will nonetheless:
In Frisco, which neighbors Allen and McKinney, the district will pay $30 million over several years to use the Dallas Cowboys’ new 12,000-seat practice field for high school football and soccer games, as well as graduation ceremonies.
Here is a nice bit of fiscal illusion:
In McKinney [one of the stadium-building districts], school taxes for property owners amount to $1.63 per $100 of assessed valuation. The tax rate had been higher in the recent past, but it fell 5 cents this year, partly because the district had dropped some old debt. Because of the 5-cent decrease, district officials repeatedly note, property owners will see their taxes go down, even as the new stadium goes up.
Jim Buchanan would be proud. And it’s a good thing we have the public sector to protect us from negative-sum status-seeking games!
The original pointer is from Adam Minter.