Page 30 - FY 2020-21 Revenue Outlook

Property Tax - All Sources

Annual Property Tax by Account
(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
ACTUAL ACTUAL ACTUAL BUDGET REVISED PROPOSED

Secured $1,245,818 $1,331,529 $1,458,252 1,524,387 1,547,253 1,653,696

Unsecured 50,718 53,251 56,894 58,600 59,230 61,130
Homeowner Exemption 8,071 7,980 7,875 7,772 7,941 7,940

Supplemental 30,862 34,555 39,270 39,510 42,810 44,419

Redemptions 19,238 20,704 19,622 19,621 21,927 21,928
County Admin Charges (17,380) (18,885) (20,818) (22,948) (21,153) (21,493)
Refunds (23,116) (17,972) (23,084) (23,085) (19,756) (19,755)
Adjustments 663 821 (941) 702 858 -
Miscellaneous Property 8,012 7,300 7,045 8,500 10,135 10,135

1% Property Tax $1,322,885 $1,419,284 $1,544,112 1,613,059 1,649,245 1,758,000

VLF Replacement 412,738 439,849 473,440 502,552 505,710 539,080
Sales Tax Replacement 63,637 - - - - - -
subtotal 476,375 439,849 473,440 502,552 505,710 539,080

Property Tax All Sources $1,799,260 $1,859,133 $2,017,552 2,115,611 2,154,955 2,297,080
(Percent Change from Prior Year)
2016-17 2017-18 2018-19 2019-20 2020-21
ACTUAL ACTUAL ACTUAL BUDGET REVISED PROPOSED
Secured 5.7% 6.9% 9.5% 4.5% 6.1% 6.9%
Unsecured 1.1% 5.0% 6.8% 3.0% 4.1% 3.2%
Homeowner Exemption -0.5% -1.1% -1.3% -1.3% 0.8% 0.0%
Supplemental 1.3% 12.0% 13.6% 0.6% 9.0% 3.8%
Redemptions 1.3% 7.6% -5.2% 0.0% 11.7% 0.0%
County Admin Charges -4.8% -8.7% -10.2% -10.2% -1.6% -1.6%
Refunds -91.7% 22.3% -28.4% 0.0% 14.4% 0.0%
Adjustments 425.7% 23.8% -214.6% 174.6% 191.2% -100.0%
Miscellaneous Property 10.1% -8.9% -3.5% 20.7% 43.9% 0.0%
1% Property Tax 4.6% 7.3% 8.8% 4.5% 6.8% 6.6%

VLF Replacement 6.5% 6.6% 7.6% 6.1% 6.8% 6.6%
Sales Tax Replacement 73.3% -100.0%
subtotal 12.3% -7.7% 7.6% 6.1% 6.8% 6.6%
Property Tax All Sources 6.5% 3.3% 8.5% 4.9% 6.8% 6.6%

Property tax is almost one-third of all City General Fund Revenue. The following pages outline the many components of the
property tax, but the primary determinant of City property tax receipts is the change in the City's assessed value which is
calculated by the County.
The low growth for all property tax sources in 2015-16 (not reflected above) and the subsequent higher growth in 2016-17
reflects the delayed receipt of sales tax replacement revenue coinciding with the end of the "triple flip." Correspondingly,
the total growth in 2017-18 appears low due to the permanent loss of this revenue.

Miscellaneous property tax remittances, previously reported under departmental receipts in 2018-19 and prior years, is now
being reported under property tax receipts. Prior year receipts are included in the property tax totals above for informational
purposes, and as a result, the totals shown above do not correspond to actual property tax receipts as reported by the
Controller's Office.

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