Page 92 - FY 2020-21 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Residential Development Tax

(Thousand Dollars)
2016-17 2017-18 2018-19 2019-20 2020-21
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 392 263 365 418 438 20 438 63
AUGUST 506 731 326 418 448 30 448 330
SEPTEMBE 663 489 344 418 496 78 496 330
OCTOBER 407 454 460 418 410 (8) 410 330
NOVEMBER 329 397 383 418 433 15 433 330
DECEMBER 403 393 525 418 506 88 506 330
JANUARY 400 398 618 418 547 129 547 330
FEBRUARY 243 255 310 418 396 (22) 396 330
MARCH 518 535 429 418 478 60 478 330
APRIL 581 668 277 418 63 330
MAY 406 644 496 420 63 330
JUNE 407 1,319 387 420 63 330
TOTAL $ 5,255 $ 6,545 $ 4,918 $ 5,020 $ 4,341 $ 3,693
% Change 20.4% 24.6% -24.9% 2.1% -11.7% -14.9%
2016-17 2017-18 2018-19 2019-20 2020-21
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 392 263 365 418 438 20 438 63
AUGUST 899 994 690 836 886 50 886 393
SEPTEMBE 1,562 1,483 1,034 1,254 1,382 128 1,382 723
OCTOBER 1,968 1,937 1,494 1,672 1,793 121 1,793 1,053
NOVEMBER 2,297 2,333 1,877 2,090 2,225 135 2,225 1,383
DECEMBER 2,700 2,726 2,402 2,508 2,731 223 2,731 1,713
JANUARY 3,099 3,124 3,020 2,926 3,278 352 3,278 2,043
FEBRUARY 3,343 3,379 3,329 3,344 3,673 329 3,673 2,373
MARCH 3,861 3,914 3,758 3,762 4,152 390 4,152 2,703
APRIL 4,442 4,582 4,035 4,180 4,215 3,033
MAY 4,848 5,226 4,531 4,600 4,278 3,363
JUNE 5,255 6,545 4,918 5,020 4,341 3,693
The General Fund residential development tax is a $300 tax imposed on each new dwelling unit constructed in the
City. An additional $200 tax is called the dwelling unit construction tax and is deposited into the Parks and
Recreation Sites and Facilities Fund. This tax revenue can be a very volatile since its range of activity, 3,000 to
19,000 units annually, is determined by economic conditions and the availability of building sites in the City. As the
City is relatively "built up," housing construction activity is not directly comparable to that of the State and County.
The estimate for 2019-20 reflects receipts-to-date and assumes permits for new residential construction will
decline in the closing months due to the pandemic and projected recession. Low permit activity is also expected
through 2020-21 based on the decline seen during the 2000 dotcom recession.

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