Page 29 - FY 2022-23 Revenue Outlook

Property Tax - All Sources

Annual Property Tax by Account
(Thousand Dollars)
2018-19 2019-20 2020-21 2021-22 2021-22 2022-23
ACTUAL ACTUAL ACTUAL ADOPTED REVISED PROPOSED
Secured $1,458,252 1,528,635 1,612,184 1,723,575 1,686,211 1,772,430
Unsecured 56,894 59,230 57,782 56,380 60,641 59,830
Homeowner Exemption 7,875 7,941 7,771 7,690 7,775 7,780
Supplemental 39,270 39,039 40,469 42,655 44,199 44,210
Redemptions 19,622 21,375 31,241 30,920 30,000 25,800
County Admin Charges (20,818) (21,153) (22,723) (24,410) (22,868) (24,410)
Refunds (23,084) (19,547) (15,701) (19,550) (15,945) (15,945)
Adjustments (941) 911 56 - (1,296) -

Miscellaneous Property 7,045 10,167 11,221 12,390 7,967 9,500
1% Property Tax $1,544,112 1,626,598 1,722,300 1,829,650 1,796,685 1,879,195

VLF Replacement 473,440 505,710 539,055 570,600 560,550 587,440
Sales Tax Replacement - - - - - -
subtotal 473,440 505,710 539,055 570,600 560,550 587,440
Property Tax All Sources $2,017,552 2,132,308 2,261,356 2,400,250 2,357,235 2,466,635

(Percent Change from Prior Year)
2018-19 2019-20 2020-21 2021-22 2022-23
ACTUAL ACTUAL ACTUAL ADOPTED REVISED PROPOSED
Secured 9.5% 4.8% 5.5% 6.9% 4.6% 5.1%
Unsecured 6.8% 4.1% -2.4% -2.4% 4.9% -1.3%
Homeowner Exemption -1.3% 0.8% -2.1% -1.0% 0.1% 0.1%
Supplemental 13.6% -0.6% 3.7% 5.4% 9.2% 0.0%
Redemptions -5.2% 8.9% 46.2% -1.0% -4.0% -14.0%
County Admin Charges -10.2% -1.6% -7.4% -7.4% -0.6% -6.7%
Refunds -28.4% 15.3% 19.7% -24.5% -1.6% 0.0%
Adjustments -214.6% 196.8% -93.9% -100.0% -2414.5% 100.0%
Miscellaneous Property -3.5% 44.3% 10.4% 10.4% -29.0% 19.2%
1% Property Tax 8.8% 5.3% 5.9% 6.2% 4.3% 4.6%

VLF Replacement 7.6% 6.8% 6.6% 5.9% 4.0% 4.8%
Sales Tax Replacement
subtotal 7.6% 6.8% 6.6% 5.9% 4.0% 4.8%
Property Tax All Sources 8.5% 5.7% 6.1% 6.1% 4.2% 4.6%
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.

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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