Ashland projects millions in tax revenue losses
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Alicia says: ashland is in a unique position -- they have a food and beverage tax that serves as a revenue stream in addition to the transient occupancy tax -- both of which have seen significant drops in revenue during covid-19 the city of ashland is expecting to lose around 6-million dollars from those tax revenues alone.
Adam says: a little over $3 million for each of those revenue streams is our current projection that loss will impact ashland residents directly.
The transient occupanc tax funds the city's general fund.
Adam says: "public safety police fire ambulance and a few others and our parks are parks operation funding comes from there" the parks commission has already laid-off some employees.
Debt payments for the waste water treatment plant and some street projects are funded by the food and beverage tax.
Adam says: "dealing with moving projects around, delaying projects and figuring out how to make sure the debt payment is made possibly from our waste water fund rather than this funding stream" the ashland mayor and city council have met to discuss the revenue shortfall and solutions to manage it.
Adam says: "empty positions don't get filled, we look at any sort of restructuring and just kind of structural or systemic cost reductions that we can do" alicia says: the city of ashland says they're in contact with our state and local representatives and are working hard to ensure ashland businesses have relief funding to maintain operations -- because if businesses are closed, so are those critical revenue streams. reporting from home,