Council votes to annex Circuit of the Americas
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The site of next week's US Grand Prix race will soon be part of the City of Austin.
On Thursday, the Austin City Council approved the annexation more than 1,500 acres of Southeast Travis County, including the Circuit of the Americas race track.
Technically, it won't be a part of Austin until after the race next weekend, but city leaders are confident it will generate future tax revenue for the city.
The city believes property taxes from that land will generate more than $16 million in profit over the next 25 years, in addition to county taxes and economic impact.