B&O tax exemption, budget cuts on Parkersburg City Council agenda
Parkersburg City Council's finance committee will meet Tuesday afternoon to consider a tax break to help restaurants, retailers and landlords affected by the coronavirus pandemic.
The committee will meet at 5 p.m. Tuesday to consider a $500 quarterly exemption of the business and occupation tax. Any tax above $500 would still need to be paid. If approved, the measure would still need the approval of the entire city council, which is scheduled to meet at 7:30 p.m.
Both meetings will be virtual and live-streamed on YouTube via Microsoft Teams.
"It provides some relief, certainty, and confidence for our smallest businesses, which are really the backbone for our economy here in Parkersburg," Mayor Tom Joyce said. "And the other thing that it does is allow us to prepare and preserve those businesses and that employment base moving forward."
The city council will also discuss potential budget cuts that could affect many projects.
"I look at it like this, I would rather prepare for the worse, which I think is what we’re doing if council moves forward with this revision," Joyce said. "There are significant cuts many of which would have already been underway."