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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