49ers to get $36 million tax refund for Levi’s Stadium
SANTA CLARA, Calif. (AP) — The San Francisco 49ers will receive a $36 million refund from Santa Clara County after getting the tax on Levi’s Stadium cut in half.
The San Francisco Chronicle reports that the county assessment appeals board cut the property tax in a decision released Wednesday. The team will get a refund this year and its taxes will drop from $12 million a year to $6 million.
Spokesman Rahul Chandhok said the team accepts the decision.
But county Assessor Larry Stone calls it “shocking and unexpected” and says it will cost the school district millions.
The 49ers don’t own Levi’s Stadium, their Santa Clara home since 2014, but they jointly operate it with the city.
The tax dispute involved how much benefit the team got from concerts and other non-football events there.