Loveland’s CFO projects $13.2M revenue loss
LOVELAND — Loveland’s chief financial officer predicts that Loveland will face a $13.2 million revenue reduction as a result of the elimination of the sales tax on food for home consumption.
The Reporter-Herald reported that CFO Brian Waldes told the City Council during its annual retreat that the first sales tax reports from grocery stores indicate a $1.1 million reduction in revenue each month.
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Loveland expects more than $13 million in tax collection reductions.
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