Convention Center Taxes

Background
The City of Minneapolis currently levies various taxes commonly referred to as “the Convention Center taxes.” ½ percent citywide sales tax 3 percent tax on restaurants and liquor sales at core downtown establishments 2.625 percent citywide lodging tax on hotels and hotels with more than 50 units These sources are expected to generate $49 million in calendar 2011 and are currently obligated to fund the Convention Center’s ongoing operations, marketing, capital improvements and debt service. Beginning in 2021, the Convention Center debt will be paid off with the Target Center debt fully amortized by 2025.

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