Page 76 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Documentary Transfer Tax - Real Property Transfers

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 16,543 18,161 17,300 17,520 17,864 344 17,864 14,790
AUGUST 19,859 20,507 22,206 20,315 24,112 3,797 24,112 18,905
SEPTEMBE 16,396 19,072 19,994 17,515 19,916 2,401 19,916 19,045
OCTOBER 18,340 15,532 15,432 17,210 19,991 2,781 19,991 16,070
NOVEMBER 17,855 17,211 16,886 17,430 19,552 2,122 19,552 17,670
DECEMBER 22,618 16,619 16,569 17,990 15,601 (2,389) 15,601 17,620
JANUARY 18,201 17,056 17,296 18,355 20,526 2,171 20,526 19,855
FEBRUARY 13,459 13,288 12,761 13,040 15,717 2,677 15,717 14,040
MARCH 13,178 14,003 13,861 14,030 15,233 1,203 15,233 15,775
APRIL 17,559 17,759 13,561 19,595 14,855 20,255
MAY 15,088 16,902 17,191 16,535 12,890 20,250
JUNE 19,829 18,736 19,165 19,065 13,918 18,440
TOTAL $ 208,925 $ 204,846 $ 202,224 $ 208,600 $ 210,175 $ 212,715
% Change 6.8% -2.0% -1.3% 3.2% 3.9% 1.2%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 16,543 18,161 17,300 17,520 17,864 344 17,864 14,790
AUGUST 36,402 38,668 39,506 37,835 41,976 4,141 41,976 33,695
SEPTEMBE 52,798 57,740 59,500 55,350 61,892 6,542 61,892 52,740
OCTOBER 71,138 73,272 74,933 72,560 81,883 9,323 81,883 68,810
NOVEMBER 88,993 90,483 91,819 89,990 101,435 11,445 101,435 86,480
DECEMBER 111,611 107,102 108,388 107,980 117,036 9,056 117,036 104,100
JANUARY 129,812 124,158 125,684 126,335 137,562 11,227 137,562 123,955
FEBRUARY 143,271 137,446 138,445 139,375 153,279 13,904 153,279 137,995
MARCH 156,449 151,449 152,306 153,405 168,512 15,107 168,512 153,770
APRIL 174,008 169,209 165,868 173,000 183,367 174,025
MAY 189,096 186,110 183,059 189,535 196,257 194,275
JUNE 208,925 204,846 202,224 208,600 210,175 212,715
The documentary transfer tax is assessed at the time of a property's sale at a tax rate of $2.25 per each $500 of
sales price. This tax is the most volatile General Fund revenue source as revenue growth (or decline) is magnified
when home prices and sales volume move together. While current year revenue is up $15.3 million from prior year
receipts, the number of deeds have declined but prices have remained steady amid low inventory. Revenue for
2019-20 will be slightly higher than plan, reflecting receipts-to-date, and a subsequent reduction to final month
receipts in line with the 25-percent sales contract cancellation reported during pandemic. 2020-21 revenue is
estimated to remain flat during forecasted recession.

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