Page 28 - FY 2021--22 Revenue Outlook

Property Tax - All Sources

Annual Property Tax by Account
(Thousand Dollars)
2017-18 2018-19 2019-20 2020-21 2021-22
ACTUAL ACTUAL ACTUAL ADOPTED REVISED PROPOSED
Secured $1,331,529 $1,458,252 1,528,635 1,653,696 1,615,056 1,723,575
Unsecured 53,251 56,894 59,230 61,130 57,782 56,380
Homeowner Exemption 7,980 7,875 7,941 7,940 7,771 7,690
Supplemental 34,555 39,270 39,039 44,419 40,800 42,655
Redemptions 20,704 19,622 21,375 21,928 30,922 30,920
County Admin Charges (18,885) (20,818) (21,153) (21,493) (22,723) (24,410)
Refunds (17,972) (23,084) (19,547) (19,755) (16,623) (19,550)
Adjustments 821 (941) 911 - 58 -
Miscellaneous Property 7,300 7,045 10,167 10,135 11,221 12,390
1% Property Tax $1,419,284 $1,544,112 1,626,598 1,758,000 1,724,264 1,829,650

VLF Replacement 439,849 473,440 505,710 539,080 539,055 570,600
Sales Tax Replacement - - - - - -
subtotal 439,849 473,440 505,710 539,080 539,055 570,600
Property Tax All Sources $1,859,133 $2,017,552 2,132,308 2,297,080 2,263,319 2,400,250

(Percent Change from Prior Year)

2017-18 2018-19 2019-20 2020-21 2021-22
ACTUAL ACTUAL ACTUAL ADOPTED REVISED PROPOSED
Secured 6.9% 9.5% 4.8% 8.2% 5.7% 6.7%
Unsecured 5.0% 6.8% 4.1% 3.2% -2.4% -2.4%
Homeowner Exemption -1.1% -1.3% 0.8% 0.0% -2.1% -1.0%
Supplemental 12.0% 13.6% -0.6% 13.8% 4.5% 4.5%
Redemptions 7.6% -5.2% 8.9% 2.6% 44.7% 0.0%
County Admin Charges -8.7% -10.2% -1.6% -1.6% -7.4% -7.4%
Refunds 22.3% -28.4% 15.3% -1.1% 15.0% -17.6%
Adjustments 23.8% -214.6% 196.8% -100.0% -93.7% -100.0%
Miscellaneous Property -8.9% -3.5% 44.3% -0.3% 10.4% 10.4%
1% Property Tax 7.3% 8.8% 5.3% 8.1% 6.0% 6.1%

VLF Replacement 6.6% 7.6% 6.8% 6.6% 6.6% 5.9%
Sales Tax Replacement -100.0%
subtotal -7.7% 7.6% 6.8% 6.6% 6.6% 5.9%
Property Tax All Sources 3.3% 8.5% 5.7% 7.7% 6.1% 6.1%

Property tax is almost one-third of all City General Fund Revenue. The following pages outline the many components of the
property tax, but the primary determinant of City property tax receipts is the change in the City's assessed value which is
calculated by the County.

The total growth in 2017-18 appears low due to the permanent loss of sales tax replacement revenue with the end of the
"triple flip".

Miscellaneous property tax remittances, previously reported under departmental receipts in 2018-19 and prior years, is now
being reported under property tax receipts. Prior year receipts are included in the property tax totals above for informational
purposes, and as a result, the totals shown above do not correspond to actual property tax receipts as reported by the
Controller's Office.

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