Holiday Valley seeks tax relief with new off-season upgrades


Turns out, off-season upgrades can be a great way to get tax breaks. The Buffalo News reports that Holiday Valley Resort in New York is seeking tax relief from Cattaraugus County. The resort will spend $2.94 million on new amenities and minor upgrades to resort buildings and infrastructure. Most of the money will be spent on new equipment, of which $225,000 will go to infrastructure and $100,000 to renovations. They are asking for $235,000 in sales tax relief to “maximizing its investment, providing a better guest experience and attracting additional guests to the resort.”

This news raises some interesting questions about the ski industry and tax breaks: do all capital improvements get tax breaks? Do new ski lifts offer tax benefits to ski resorts? Has the replacement of the Holiday Valleys Yodeler lift for the 2021-22 season become tax relief? Will they seek tax relief for their six-pack chairlift coming in 2023? From some initial research, this sounds like something Holiday Valley has done in the past. It’s an interesting concept that isn’t discussed much in the ski industry, and I’ll investigate further in the future. Image credits: Holiday Valley Resort

Source link


About Author

Comments are closed.