Page 49 - FY 2020-21 Revenue Outlook
P. 49
REVENUE MONTHLY STATUS REPORT
Property Tax - 1% (Excl. VLF and Sales Tax Replacement)
(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 11,663 29,391 38,397 20,838 22,824 1,986 22,824 26,373
AUGUST 48,139 52,059 52,792 60,722 64,959 4,237 64,959 67,785
SEPTEMBER - - - - - - 0 - -
OCTOBER - - - - - - 0 - -
NOVEMBER 22,204 23,694 26,411 28,124 30,685 2,561 30,685 31,317
DECEMBER 482,444 511,366 546,452 579,816 597,115 17,299 597,115 635,822
JANUARY 130,218 139,285 148,312 157,958 161,368 3,410 161,368 171,912
FEBRUARY 100,045 179,642 104,191 110,364 90,687 (19,677) 90,687 130,954
MARCH 5,448 5,413 6,652 7,313 7,287 (26) 7,287 7,530
APRIL 347,207 295,406 408,605 435,353 457,379 466,737
MAY 163,497 170,807 198,927 207,295 210,419 212,849
JUNE 4,009 4,919 6,330 5,276 6,521 6,721
TOTAL $ 1,314,874 $ 1,411,984 $ 1,537,068 $ 1,613,059 $ 1,649,245 $ 1,758,000
% Change 4.6% 7.4% 8.9% 4.9% 7.3% 6.6%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 11,663 29,391 38,397 20,838 22,824 1,986 22,824 26,373
AUGUST 59,802 81,451 91,189 81,560 87,783 6,223 87,783 94,158
SEPTEMBER 59,802 81,451 91,189 81,560 87,783 6,223 87,783 94,158
OCTOBER 59,802 81,451 91,189 81,560 87,783 6,223 87,783 94,158
NOVEMBER 82,006 105,145 117,600 109,684 118,468 8,784 118,468 125,475
DECEMBER 564,450 616,511 664,052 689,500 715,583 26,083 715,583 761,297
JANUARY 694,668 755,796 812,364 847,458 876,951 29,493 876,951 933,209
FEBRUARY 794,713 935,438 916,555 957,822 967,638 9,816 967,638 1,064,163
MARCH 800,161 940,851 923,207 965,135 974,925 9,790 974,925 1,071,693
APRIL 1,147,368 1,236,258 1,331,811 1,400,488 1,432,304 1,538,430
MAY 1,310,865 1,407,065 1,530,738 1,607,783 1,642,724 1,751,279
JUNE 1,314,874 1,411,984 1,537,068 1,613,059 1,649,245 1,758,000
The estimates on this page represent the "base" for the property tax revenue, roughly equivalent to one percent of
the home value at the time of sale. The primary determinant of growth in City property tax is the change in City
assessed value calculated by the County Assessor. Revised growth of 6.8 percent for 2019-20 reflects the
County's estimate for percent growth reported in its 2019 annual tax roll. The addition of recording miscellaneous
property tax receipts starting in 2019-20 makes growth appear larger on the table above. The estimate for
2020-21 assumes 6.6 percent growth based on trends in current year receipts and prior year revenues.
The unusual growth in 2018-19 in chart below corresponds to early tax payments made by property owners in
response to federal income tax changes.
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