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F1 Weekend is a Tax Windfall -- For Some

Updated: Saturday, August 3 2013, 05:06 PM CDT

Local hotels say their guests couldn't have been happier with the way the Circuit of the Americas and the City of Austin pulled off the inaugural run of Austin's U.S. Grand Prix.  Guests paid a pretty penny for their room for race weekend.  And on top of that, the hotels collected a 15 percent hotel occupancy tax.  But all that money is already spoken for, and none of this tax windfall will go directly toward the expenses the city incurred supporting this massive event.

The Austin Convention Center is the big winner in the race for the hotel tax dollar.  They get 43 percent.  The state is next snatching 40 percent of the tax tie.  Ten percent goes to city visitor programs and the last 7 percent goes to the arts.

So who will pay for the police overtime and other expenses?  The local taxpayer will cover that until we're reimbursed from the state's major event tax fund which comes from other state taxes.  Anyway you look at it -- we pay.

By Fred CantuF1 Weekend is a Tax Windfall -- For Some


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Race Schedule

Fri. Nov.16
Practice 1 9 a.m.-10:30 a.m.
Practice 2 1 p.m.-2:30 p.m.

Sat. Nov. 17
Practice 3 9 a.m.-10 a.m.
Qualifying noon

Sun. Nov.18
Race 1 p.m.

Complete Schedule


Concerts

  • Fri. Nov. 16: Aerosmith and Cheap Trick, Frank Erwin Center
  • Fri. Nov 16: Flo Rida with Cobra Starship, Austin Convention Center
  • Fri. Nov. 16: Juanes, ACL Live at the Moody Theater
  • Sat. Nov. 17: Enrique Iglesias with Nelly, Austin Convention Center
  • Sat. Nov. 17: Lupe Fiasco, ACL Live at the Moody Theater
  • Sun. Nov. 18: The Wallflowers, ACL Live at the Moody Theater
  • Sun. Nov. 18: Official After Party. Ghostland Observatory, Fitz & The Tantrums, The Wailers, DJ Jillian Ann and Tje Austin, Bob Bullock Texas State History Museum
  • Fri. Nov. 16-Sun.18: 5 stages at outdoor Austin Fan Fest, schedule at austinfanfest.com/events
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