'Zeroed Out': Pittsburgh Is Losing Tens Of Millions Of Dollars In Revenue Amid Coronavirus Pandemic. Can It Be Made Up?
PITTSBURGH (KDKA) -- Pittsburgh Mayor Bill Peduto warns the city is losing tens of millions of dollars in revenue because of the coronavirus pandemic.
When all is said and done, Pittsburgh could take a $100 million hit from the pandemic.
"We're basically receiving zero when it comes to parking tax, amusement tax, facility usage fee, parking meter revenue," said Mayor Peduto's Chief of Staff Dan Gilman. "Those are all zeroed out."
Every time you attend a sporting event or concert, you pay a 5 percent amusement tax. When you sell a property, you pay a deed transfer tax.
In normal times, you pay to park. Now, all that money is gone.
"We expect significant reductions in payroll tax and earned income tax because of the furloughs that have occurred. And then you also have to assume a drop off in our biggest revenue generator, which is property tax," Gilman said.
The city is losing out on its $66 million a year parking tax. They're losing a big chunk of their $50 million a year deed transfer tax and $21 million from the amusement tax is dried up.
All in all, it is a huge hit on a $650 million annual budget.
Gilman says the city will need some help.
"We made a commitment to not furlough our employees and to provide those services. But we don't have the revenue coming in," Gilman said. "That's going to take the federal government getting involved and providing it."
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