ESI was retained by the Bucks County Consortium, a forum for intergovernmental cooperation and communication among many of the 52 incorporated municipalities in the County, to provide a county-wide analysis of actual and projected changes in major revenue sources impacting Consortium members through the end of 2021. The analysis took into consideration the economic and fiscal impacts of the COVID-19 crisis, including business closures, shifts in tax deadlines, economic slowdown and unemployment. ESI calculated the county wide impacts on four common revenue sources for municipalities – earned income tax, property tax, realty transfer tax and mercantile tax. ESI also identified risk factors that would impact individual municipalities for the EIT and property tax. The analysis will be used by the members of the Consortium in preparing revised current and future budget estimates.
