Voters in Oklahoma City will decide on a ballot measure that would levy a 1% sales tax to fund a new arena for the city’s NBA basketball team, the Oklahoma City Thunder.
The 1% sales tax would be levied for a period of six years beginning on April 1, 2028, and would replace the existing MAPS 4 1% sales tax, therefore the current sales tax rate of 8.625% will remain unchanged if the measure is approved.
The measure would create the Arena Facility Sales Tax Fund to fund the new OKC Arena, expected to cost a minimum of $900 million. The Oklahoma City Thunder ownership agreed to pay $50 million towards the arena with an agreement that the Oklahoma City Thunder will play at the new arena for at least 25 years.
