The Turning Stone Casino and six other properties owned by the Oneida Indian Nation are worth $384 million on town property tax rolls, and there will be costly repercussions if it doesn't pay its tax bills, a local official said Wednesday.
Town of Verona officials assessed the properties because of the U.S. Supreme Court's recent decision in a case involving the nearby city of Sherrill. In that case, the high court said too many years had passed for the Oneidas to claim that their reacquired former reservation lands were again sovereign and tax-exempt. The 12-year-old casino complex, which draws 4 million visitors annually, was by itself valued at $362.5 million.
Town Supervisor David Reed said the property taxes on the Oneida parcels will amount to about $400,000 a year, a bill due on Jan. 1. He said that if the Oneidas don't pay their taxes, it will have a snowball effect, costing local jurisdictions millions of dollars.