Page 37 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - All Sources
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 29,391 38,397 22,824 26,373 13,195 (13,178) 13,195 23,395
AUGUST 52,059 52,792 64,959 67,785 71,432 3,647 71,432 64,285
SEPTEMBER - - - - - - - -
OCTOBER - - - - - - - -
NOVEMBER 23,694 26,411 30,685 31,317 32,005 688 32,005 31,840
DECEMBER 511,366 546,452 597,115 635,822 634,148 (1,674) 634,148 655,835
JANUARY 359,210 385,032 414,223 441,452 441,415 (37) 441,415 463,210
FEBRUARY 179,642 104,191 90,687 130,954 83,056 (47,898) 83,056 129,980
MARCH 5,413 6,652 7,287 7,530 10,060 2,530 10,060 10,010
APRIL 295,406 408,605 456,724 466,737 501,946 490,930
MAY 390,732 435,646 376,805 482,389 470,038 524,230
JUNE 4,919 6,330 70,999 6,721 6,026 6,535
TOTAL $ 1,851,833 $ 2,010,508 $ 2,132,308 $ 2,297,080 $ 2,263,319 $ 2,400,250
% Change 3.4% 8.6% 6.1% 7.7% 6.1% 6.1%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 29,391 38,397 22,824 26,373 13,195 (13,178) 13,195 23,395
AUGUST 81,451 91,189 87,783 94,158 84,627 (9,531) 84,627 87,680
SEPTEMBER 81,451 91,189 87,783 94,158 84,627 (9,531) 84,627 87,680
OCTOBER 81,451 91,189 87,783 94,158 84,627 (9,531) 84,627 87,680
NOVEMBER 105,145 117,600 118,468 125,475 116,632 (8,843) 116,632 119,520
DECEMBER 616,511 664,052 715,583 761,297 750,780 (10,517) 750,780 775,355
JANUARY 975,721 1,049,084 1,129,806 1,202,749 1,192,194 (10,555) 1,192,194 1,238,565
FEBRUARY 1,155,363 1,153,275 1,220,493 1,333,703 1,275,250 (58,453) 1,275,250 1,368,545
MARCH 1,160,776 1,159,927 1,227,780 1,341,233 1,285,310 (55,923) 1,285,310 1,378,555
APRIL 1,456,182 1,568,531 1,684,504 1,807,970 1,787,256 1,869,485
MAY 1,846,914 2,004,178 2,061,309 2,290,359 2,257,294 2,393,715
JUNE 1,851,833 2,010,508 2,132,308 2,297,080 2,263,319 2,400,250

Fiscal year 2019-20 receipts were anticipated to grow by 6.8 percent, but final quarter receipts dropped due to
delinquent remittances attributed to the pandemic. Similarly, the County Assessor estimated 6.6 percent growth
for receipts corresponding to the 2020-21 fiscal year. Revised estimates have been reduced to account for
delinquencies and other adjustments, with net growth projected at 6.1 percent.
The County Assessor no longer provides a preliminary estimate for property tax growth for the upcoming (2021)
tax year. Net 2021-22 receipts reflect similar growth of 6.1%, although for different reasons. Specifically, while
delinquencies are expected to decrease, so is the growth in assessed value for secured and unsecured receipts,
due to the delayed impact of the pandemic-economy on property valuations and tax revenue. There is downside
risk to receipts from both higher delinquencies and lower growth.

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