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By Stkphrn Dakkinu
Kuppohonnuck N.-ws -t.-iflwntt'r
With lodging occupancy rates (.town mwlv five percent statewide, this is nut good news for the tbwn of Washington which relies un tourism for most uf its revenue and which is about to brook ground on a now wastewater project.
Timing cutikl not bo moro critical to ensure tho project moves for* want. Notwithstanding a nointn^ est $4 million loan in an incmiibiy tight credit market, tho Washington Town Council is exploring raising tho meals mid lodging tax in tho event that current revenue doesn't cover the costs of the wastewater system.
Currently, the town levies a 2.5 percent tax on lodging and tneais - significantly below the 4 to fi percent that other towns in the region charge. No one wants to acknuwledge publicly there' may be problems. but official source's have said privately they expect there* will be a drop in revenue due to the current financial and stock market turmoil.
According to town otficials. revenue from the meals and lodging taxi's has remained fairly consistent through the end of the fiscal vear mi June JO. The Inn at Little Washington said it has paid more to tile town tins year through the end of August than it did the previous year over the same period.
But with collections lagging at least t>0 days behind the month they would be reported for - mid with ail that has happened m the financial markets since August - there may be cause tor concern especially as the town is about to embark on the public works prun'd.
The town has been approved to build a new wastewater collection system ami treatment plant - and promised a no interest $4 million dollar loan - bv the Virginia Department of Environmental Quality. But already the town has had to reissue solicitations for bid proposals for the wastewater treatment plant as the first round of bids
S»« TAXES. Pag* A3
33.2%