The theory is that (a) the tax would be paid by the property owner and not the venue (it is assumed rent follows an econ 102 inelastic supply model) and (b) pro

The theory is that (a) the tax would be paid by the property owner and not the venue (it is assumed rent follows an econ 102 inelastic supply model) and (b) property would be less attractive as a store of wealth so prices would drop.