Page 47 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - 1% (Excl. VLF and Sales Tax Replacement)
(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 139,285 148,312 161,368 171,912 171,887 (25) 171,887 177,910
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 170,807 198,927 123,950 212,849 200,510 238,930
JUNE 4,919 6,330 70,999 6,721 6,026 6,535
TOTAL $ 1,411,984 $ 1,537,068 $ 1,626,598 $ 1,758,000 $ 1,724,264 $ 1,829,650
% Change 7.4% 8.9% 5.8% 8.1% 6.0% 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 755,796 812,364 876,951 933,209 922,667 (10,542) 922,667 953,265
FEBRUARY 935,438 916,555 967,638 1,064,163 1,005,722 (58,441) 1,005,722 1,083,245
MARCH 940,851 923,207 974,925 1,071,693 1,015,782 (55,911) 1,015,782 1,093,255
APRIL 1,236,258 1,331,811 1,431,649 1,538,430 1,517,728 1,584,185
MAY 1,407,065 1,530,738 1,555,599 1,751,279 1,718,238 1,823,115
JUNE 1,411,984 1,537,068 1,626,598 1,758,000 1,724,264 1,829,650

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 6.0 percent for 2020-21 reflects the
County's estimate for percent growth reported in its 2020 annual tax roll plus other adjustments. The unusual
growth in 2018-19 in chart below corresponds to early tax payments made by property owners in response to
federal income tax deduction changes. The addition of recording miscellaneous property tax receipts starting in
2019-20 makes growth appear larger on the table above.
The estimate for 2021-22 reflects net 6.1 percent growth based on current year receipts and the unique trends of
the various components.

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