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CBS News 8 - San Diego, CA News Station - KFMB Channel 8 | cbs8.com

Early estimates indicate city of San Diego will lose $109 million in tax revenue by end of fiscal year

Data shows the city could lose $26 million in sales tax and $83 million in tourism tax revenue for a total of $109 million in losses estimated through June 30.

SAN DIEGO — Mayor Kevin Faulconer said Thursday that current estimates indicate the City of San Diego is projected to lose over $100 million dollars in the next four months due to economic slowdown resulting from the COVID-19 pandemic. He broke down the figures saying data shows the city could lose $26 million in sales tax revenue and $83 million in tourism tax revenue for a total of $109 million in losses estimated through June 30 when the city's fiscal year ends. 

He said the numbers change by the day and sometimes the hour but he wanted to be upfront with San Diegans on the fiscal impact of the virus. Faulconer said the city is facing "significant" cuts through the rest of this fiscal year and into the next, starting July 1. 

"This is money we count on to pay for public services like police, fire-rescue, and libraries," said Faulconer. 

Faulconer also announced a San Diego Lifeguard has tested positive for COVID-19. He reminded locals that with the weekend coming up, everyone needs to adhere to the stay-at-home order. 

"This is a reminder why we need everyone to stay at home," Faulconer said. "Thi is one of the reasons access has been closed to beaches and parks. You can help prevent the spread of this virus among our public safety professionals that keep you and your families and our communities safe."

Earlier this week

On Monday, the city of San Diego announced the entirety of Golden Hall and parts of the Convention Center were being converted to homeless shelters with hundreds of beds. Mayor Kevin Faulconer also said the county's nine bridge homeless shelters with public nurses will convert to screening and triage centers. 

Faulconer's other big announcement of the week also came Monday when he ordered the closure of all city-owned beaches, parks and trails, citing a lack of physical distance among city residents over the weekend.  

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NEWS 8 joined forces with The San Diego Foundation to raise IMMEDIATE, EMERGENCY FUNDS for our most vulnerable neighbors in need. Here is how you can help. 

BACKGROUND: 

According to the CDC, coronavirus (COVID-19) is a family of viruses that is spreadable from person to person. Coronavirus is believed to have been first detected in a seafood market in Wuhan, China in December 2019. If someone is sick with coronavirus, the symptoms they may show include mild to severe respiratory illness, cough, and difficulty breathing. 

Currently, there is no vaccine, however, the CDC suggests the following precautions, along with any other respiratory illness: 

  • Avoid close contact with people who are sick. 

  • Avoid touching your eyes, nose, and mouth. 

  • Stay home when you are sick. 

  • Cover your cough or sneeze with a tissue, then throw the tissue in the trash. 

  • Clean and disinfect frequently touched objects and surfaces using a regular household cleaning spray or wipe. 

  • Wash your hands with soap and water for a minimum of 20 seconds. 

The CDC also says facemasks should only be used by people who show symptoms of the virus. If you’re not sick, you do not have to wear a facemask.