Facing revenue losses, Loveland City Council members are considering a tax hike to help ease budget woes. The Loveland Reporter Herald reports after discussing an austerity budget this week for 2025, several council members asked the City Manager’s office to draft language for such a measure and bring it back for discussion later this summer. The pain is a potential reduction of $12.5 million from the 2025 general fund budget, which pays for police, fire, parks and recreation, the library, cultural services and more. The city’s finance office is projecting at least that much in lost revenue, after the elimination of the 3% sales tax on food, a ballot measure that Loveland voters embraced by a 2-to-1 margin last year.
Loveland City Council mulls tax increase to offset budget cuts