Battery Atlanta Complex’s Property Taxes Exceed County’s Debt Fund Payment for Second Year

During the annual Braves Stadium / Battery Atlanta update to the Cobb County Board of Commissioners (BOC), it was revealed that for the second consecutive year, the property taxes from the Battery Atlanta complex surpassed the county’s general fund payment into the debt fund. This achievement, initially reached last year, has arrived ahead of the 2015 projections.

Mike Plant, President and CEO of the Braves Development Company, presented the complex’s financial status, highlighting its growth, including a record-breaking 10.3 million visitors to the Battery in 2023, with the majority coming from outside Cobb County. Plant also expressed anticipation for more fans visiting Truist Park this season, despite the complex being nearly fully built out.

Chief Financial Officer Bill Volckmann provided insight into the fiscal outlook, attributing the remarkable increase in property values—from $5 million in 2014 to $767 million in 2023—to the development spurred by the Braves. Volckmann reported that the property taxes paid by the Braves and Battery Atlanta complex exceeded the general fund’s contribution to the debt service, which had fallen to $1.75 million annually, significantly below the original projections of $6.4 million.

Volckmann told the board, “The amount of property tax paid by the Braves and Battery Atlanta complex more than exceeded the amount of general fund property taxes contributed to the debt service.”

The general fund’s contribution to the stadium’s debt service fund fell to $1.75 million, well below the original projections of $6.4 million annually. This amounts to 0.3% of the county’s Adopted 2024 General Fund Budget. This decrease was fueled by a significant rebound of other revenue sources, including the hotel/motel tax, taxes paid by the special service district, and a $3 per-night hotel room fee, now well above pre-pandemic levels.

In the meantime, the property taxes generated from the Battery Atlanta complex rose to nearly $2.6 million last year, more than $800,000 above the county’s general fund obligation.

It’s worth noting that these figures only encompass properties within the Atlanta Braves Battery Atlanta complex and do not include the broader development surrounding it.

CFO Volckmann also informed the BOC that Battery Atlanta’s revenue has surpassed bond debt service costs for the second consecutive year and now also covers the expenses of providing the CobbLinc Circulator in the Cumberland area.

“I know whenever I try to park at the complex on the weekend, I allot a lot of time because so many people want to be there,” Chairwoman Lisa Cupid said. “It’s great to see the property doing so well.”

“This is a great trend,” said Commissioner JoAnn Birrell. “I know it’s taken a few years, but it’s great to see the debt service go away.”

“I appreciate the partnership,” said Commissioner Jerica Richardson. “I am so excited for what the future holds and to see the future investments in this area.”