NASCAR ticket price up to $272 higher thanks to Chicago tax

The typical racing fan will pay an extra $22 for general admission to Chicago’s NASCAR “Street Race Weekend” thanks to the city’s amusement tax. Luxury seating could cost residents more than the price of a standard ticket in taxes alone.

Racing fans will pay between $22 and $272 more than the listed price for a ticket to Chicago’s NASCAR “Street Race Weekend” July 1, thanks to the city’s amusement tax.

The $272 tax amount is for NASCAR fans planning to purchase a luxury seat at the President’s Paddock Club. That’s more than the cost of a standard admission ticket.

The Cup Series’ inaugural race through the Loop, up the Magnificent Mile and down Lake Shore Drive is the first of three contracted through 2025 by former Mayor Lori Lightfoot as a new revenue source for the city.

NASCAR officials predict the stock car race through downtown will draw some 100,000 visitors to Chicago during the two days of racing and help the city generate more than $3 million in tax revenue.

A notable portion of that revenue will come from the 9% amusement tax Chicago applies to purveyors and consumers of entertainment, including live concerts, theatrical performances and even Netflix subscriptions.

Data from the Chicago Department of Finance shows the city raised over $196.4 million from the amusement tax in 2019, before venues were closed to mitigate the spread of the COVID-19 pandemic.

But revenues have bounced back, and gone higher. The city collected roughly $231.7 million from the amusement tax last year, according to a Freedom of Information Act request.

Chicago’s amusement tax is one of the highest in the country, and the second-highest among the few big cities that charge a similar tax in the Midwest. Indianapolis is highest.

Plus, Chicago’s amusement tax is not the only tax on tickets.

There’s an additional 3% racing fans will pay toward Cook County’s own amusement tax. There’s also the 10.25% combined state and local sales tax levied on the final ticket price.

An economic impact study commissioned by NASCAR estimated the July 2023 race downtown would generate $113.8 million in new direct and indirect spending, bolstering the local economy.

But some aldermen and advocates have expressed concerns that the race set to start and end in Grant Park could cost nearby museums millions in lost ticket sales and crowd out classic summer park events.

The Taste of Chicago, originally scheduled July 1 to July 3 in Grant Park, has already been delayed to Sept. 8.