Page 40 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - Secured

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 15,689 28,405 38,734 19,410 20,692 1,282 20,692 24,100
AUGUST 6,276 6,034 6,922 6,941 6,551 (390) 6,551 8,396
SEPTEMBER - - - - - - 0 - -
OCTOBER - - - - - - 0 - -
NOVEMBER - - - - - - 0 - -
DECEMBER 496,242 527,364 565,317 600,715 616,508 15,793 616,508 655,520
JANUARY 124,060 131,841 141,329 150,750 154,127 3,377 154,127 164,500
FEBRUARY 104,440 183,012 110,045 116,000 94,176 (21,824) 94,176 134,600
MARCH - - - - - - 0 - -
APRIL 344,489 293,788 406,409 432,980 454,818 464,050
MAY 154,622 161,086 189,495 197,591 200,380 202,530
JUNE - - - - - -

TOTAL $ 1,245,818 $ 1,331,529 $ 1,458,252 $ 1,524,387 $ 1,547,253 $ 1,653,696
% Change 5.7% 6.9% 9.5% 4.5% 6.1% 6.9%

2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 15,689 28,405 38,734 19,410 20,692 1,282 20,692 24,100
AUGUST 21,965 34,438 45,656 26,351 27,243 892 27,243 32,496
SEPTEMBER 21,965 34,438 45,656 26,351 27,243 892 27,243 32,496
OCTOBER 21,965 34,438 45,656 26,351 27,243 892 27,243 32,496
NOVEMBER 21,965 34,438 45,656 26,351 27,243 892 27,243 32,496
DECEMBER 518,207 561,802 610,974 627,066 643,751 16,685 643,751 688,016
JANUARY 642,267 693,644 752,303 777,816 797,878 20,062 797,878 852,516
FEBRUARY 746,707 876,656 862,348 893,816 892,054 (1,762) 892,054 987,116
MARCH 746,707 876,656 862,348 893,816 892,054 (1,762) 892,054 987,116
APRIL 1,091,196 1,170,444 1,268,757 1,326,796 1,346,873 1,451,166
MAY 1,245,818 1,331,529 1,458,252 1,524,387 1,547,253 1,653,696
JUNE 1,245,818 1,331,529 1,458,252 1,524,387 1,547,253 1,653,696
The County tax year runs from December to August, overlapping two City fiscal years. Receipts in July and August
belong to the prior County tax year. Variations in the amounts remitted in May and in July and August shift
property tax growth between fiscal years. The mid-year spike in 2017-18 revenue, and its echoing drop in 2018-19
can be attributed to early tax payments made by property owners in response to federal income tax changes.
Growth of 6.6 percent is assumed for the 2020 County tax year, which corresponds most closely with fiscal year
2020-21 receipts. The proposed budget reflects higher growth of 6.8 percent, which includes the receipt of later
2019 tax year remittances during the COVID-19 pandemic.

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