Page 90 - FY 2021--22 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Residential Development Tax
(Thousand Dollars)

2017-18 2018-19 2019-20 2020-21 2021-22
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 263 365 438 63 485 422 485 400
AUGUST 731 326 448 330 199 (131) 199 400
SEPTEMBER 489 344 496 330 305 (25) 305 400
OCTOBER 454 460 410 330 284 (46) 284 400
NOVEMBER 397 383 433 330 251 (79) 251 400
DECEMBER 393 525 506 330 480 150 480 400
JANUARY 398 618 547 330 619 289 619 400
FEBRUARY 255 310 396 330 359 29 359 400
MARCH 535 429 478 330 420 90 420 400
APRIL 668 277 275 330 400 400
MAY 644 496 166 330 400 400
JUNE 1,319 387 228 330 399 400
TOTAL $ 6,545 $ 4,918 $ 4,821 $ 3,693 $ 4,600 $ 4,800
% Change 24.6% -24.9% -2.0% -23.4% -4.6% 4.3%
2017-18 2018-19 2019-20 2020-21 2021-22
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 263 365 438 63 485 422 485 400
AUGUST 994 690 886 393 684 291 684 800
SEPTEMBER 1,483 1,034 1,382 723 988 265 988 1,200
OCTOBER 1,937 1,494 1,792 1,053 1,272 219 1,272 1,600
NOVEMBER 2,333 1,877 2,225 1,383 1,523 140 1,523 2,000
DECEMBER 2,726 2,402 2,731 1,713 2,003 290 2,003 2,400
JANUARY 3,124 3,020 3,278 2,043 2,621 578 2,621 2,800
FEBRUARY 3,379 3,329 3,674 2,373 2,981 608 2,981 3,200
MARCH 3,914 3,758 4,152 2,703 3,401 698 3,401 3,600
APRIL 4,582 4,035 4,427 3,033 3,801 4,000
MAY 5,226 4,531 4,593 3,363 4,201 4,400
JUNE 6,545 4,918 4,821 3,693 4,600 4,800

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 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 2020-21 reflects receipts-to-date without significant reduction to permitting activity
during the pandemic. The 2021-22 estimate assumes recovery in line with 2019-20 receipts.

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