The city of Des Moines estimates an $18 million loss of revenue for the next 60 days, and it’s all attributed to COVID-19. With the city at a stand still, it’s projected that there will be little revenue from sales tax, permits, and licenses.
“Nothing like this has ever happened. This is a very unique situation,” said City Manager Scott Sanders.
At $5.8 million, the most significant loss for the city is associated with the Local Option Sales and Service Tax Fund, a sales tax that was just approved in March 2019. The tax fund is used for infrastructure projects and public safety enhancements.
Other significant losses include a $3.6 million loss to the Road Use Tax Fund and a $2.1 million loss in hotel tax revenue.
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by melody mercado
April 12, 2020