Local Governments Could See Major Reductions in Tax Revenues Due to COVID-19

Local government tax revenues for 2020 were expected to be stagnant even before COVID-19 forced a shutdown of the economy to mitigate the impact of the disease. The closure might cost more than $200 million in an optimistic scenario, says a new report from Ball State University.

“Preliminary Fiscal Effects of COVID-19 on Indiana’s Local Tax Revenues,” a report by Ball State’s Center for Business and Economic Research (CBER), offers estimates of the potential COVID-19 impacts on local budgets under two scenarios. The report breaks tax losses on a county-by-county basis.

 

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