Raising Property Taxes do not help in some situations. I have heard there is an effort to help control that (where it can apply); in the works / maybe lock in the rates for the tracks as development goes up around them.

All in all, I think in many cases, sadly, the value of the land exceeds how much can be brought in thru weekly racing events. Of course, there are ways these facilities could make some money other than just on race nights; but when you start thinking about it; investors/city leaders/etc like businesses that are open and bringing in revenue 5-6-7 days a week; 52 weeks a year...instead of place that's only open one day a week in the summer...