San Diego Mayor preparing for budget impacts from COVID-19
SAN DIEGO (KUSI) – San Diego Mayor Kevin Faulconer said Thursday that the city was facing a financial crisis, projecting that $109 million in tax revenue has been lost as a result of the economic slowdown caused by the global pandemic.
According to city data, San Diego has missed out on $83 million in hotel occupancy taxes and $26 million in sales tax, the city’s third- and second-highest revenue generators. Property tax brings in the most money for the city, but less is known about that data at this time. Faulconer said the lost money represents the yearly budget of the city’s entire parks and recreation department.
“The global pandemic is taking a toll on everyone, and the City of San Diego is no exception. I want to be upfront with San Diegans, because the only way to get through this is as a community,” Mayor Faulconer said. “I’ve worked to make sure San Diego is a leader when it comes to fiscal discipline and we’re not going to stop now. Neighborhood services are a priority for San Diegans, and they will remain a priority for me as we work on the budget.”