Page 43 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - Redemptions

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ - - - - - - 0 - -
AUGUST 2,299 2,892 1,683 1,683 1,371 (312) 1,371 1,371
SEPTEMBER - - - - - - 0 - -
OCTOBER - - - - - - 0 - -
NOVEMBER 9,818 10,582 10,676 10,676 13,182 2,506 13,182 13,182
DECEMBER - - - - - - 0 - -
JANUARY - - - - - - 0 - -
FEBRUARY 4,220 4,644 4,146 4,146 4,375 229 4,375 4,375
MARCH - - - - - - 0 - -
APRIL - - - - - -
MAY 2,901 2,587 3,116 3,116 3,000 3,000
JUNE - - - - - -

TOTAL $ 19,237 $ 20,704 $ 19,622 $ 19,621 $ 21,927 $ 21,928
% Change 1.3% 7.6% -5.2% 0.0% 11.7% 0.0%

2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ - - - - - - - -
AUGUST 2,299 2,892 1,683 1,683 1,371 (312) 1,371 1,371
SEPTEMBER 2,299 2,892 1,683 1,683 1,371 (312) 1,371 1,371
OCTOBER 2,299 2,892 1,683 1,683 1,371 (312) 1,371 1,371
NOVEMBER 12,117 13,474 12,360 12,359 14,553 2,194 14,553 14,553
DECEMBER 12,117 13,474 12,360 12,359 14,553 2,194 14,553 14,553
JANUARY 12,117 13,474 12,360 12,359 14,553 2,194 14,553 14,553
FEBRUARY 16,336 18,117 16,506 16,505 18,927 2,422 18,927 18,928
MARCH 16,336 18,117 16,506 16,505 18,927 2,422 18,927 18,928
APRIL 16,336 18,117 16,506 16,505 18,927 18,928
MAY 19,237 20,704 19,622 19,621 21,927 21,928
JUNE 19,237 20,704 19,622 19,621 21,927 21,928
Unpaid property taxes, both secured and unsecured, are known as delinquencies. Delinquent taxes accumulate
interest and penalties. Properties with taxes unpaid for five years are sold through auction by the State to recover
unpaid taxes. The taxpayer may settle the delinquency by redemption. The City's share of principal, penalties and
interest is distributed by the County. Redemptions have decreased with the improving housing market. Estimates
for 2019-20 are based on receipts-to-date, and 2020-21 assume redemption activity remains flat.

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