January 15, 2014
PORTSMOUTH, Va. (AP) - A new study says tolls on the Downtown and Midtown tunnels will be hurt businesses, residents and city revenues in Portsmouth.
The study by Old Dominion University economics professor James V. Koch says the tolls will cost the typical commuter about $1,000 a year. Businesses are expected to lose customers from other cities as motorists change their habits.
The study says the city government can expect a decline in taxable sales of several million dollars.
Koch conducted the study for the city. The Virginian-Pilot reports that he presented his findings Tuesday night to the City Council.
Koch told council members that Portsmouth's burden from the tolls will be eight times greater than Virginia Beach's and six times greater than Norfolk's.
The tolls begin Feb. 1.
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