Page 39 - FY 2022-23 Revenue Outlook

REVENUE MONTHLY STATUS REPORT
Property Tax - Secured
(Thousand Dollars)

2018-19 2019-20 2020-21 2021-22 2022-23
MONTHLY ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 38,734 20,692 9,975 21,135 25,276 4,141 25,276 24,300
AUGUST 6,922 6,551 12,935 6,800 10,935 4,135 10,935 12,700
SEPTEMBE - - - - - - - -
OCTOBER - - - - - - - -
NOVEMBER - - - - - - - -
DECEMBER 565,317 616,508 655,553 693,900 681,361 (12,539) 681,361 714,070
JANUARY 141,329 154,127 163,888 173,480 170,340 (3,140) 170,340 178,520
FEBRUARY 110,045 94,176 84,054 132,100 94,605 (37,495) 94,605 114,500
MARCH - - - - - - - -
APRIL 406,409 454,818 499,151 485,220 507,651 516,660
MAY 189,495 117,360 186,674 210,940 196,043 211,680
JUNE - 64,402 (46) - - -
TOTAL $ 1,458,252 $ 1,528,635 $ 1,612,184 $ 1,723,575 $ 1,686,211 $ 1,772,430
% Change 9.5% 4.8% 5.5% 6.9% 4.6% 5.1%
2018-19 2019-20 2020-21 2021-22 2022-23
CUMULATIVE ACTUAL ACTUAL ACTUAL BUDGET ACTUAL VARIANCE REVISED PROPOSED
JULY $ 38,734 20,692 9,975 21,135 25,276 4,141 25,276 24,300
AUGUST 45,656 27,243 22,911 27,935 36,211 8,276 36,211 37,000
SEPTEMBE 45,656 27,243 22,911 27,935 36,211 8,276 36,211 37,000
OCTOBER 45,656 27,243 22,911 27,935 36,211 8,276 36,211 37,000
NOVEMBER 45,656 27,243 22,911 27,935 36,211 8,276 36,211 37,000
DECEMBER 610,974 643,751 678,463 721,835 717,571 (4,264) 717,571 751,070
JANUARY 752,303 797,878 842,351 895,315 887,911 (7,404) 887,911 929,590
FEBRUARY 862,348 892,054 926,406 1,027,415 982,517 (44,898) 982,517 1,044,090
MARCH 862,348 892,054 926,406 1,027,415 982,517 (44,898) 982,517 1,044,090
APRIL 1,268,757 1,346,873 1,425,556 1,512,635 1,490,168 1,560,750
MAY 1,458,252 1,464,233 1,612,230 1,723,575 1,686,211 1,772,430
JUNE 1,458,252 1,528,635 1,612,184 1,723,575 1,686,211 1,772,430

The County tax year runs from December to August, overlapping two City fiscal years. Receipts in July and
August belong to the prior County tax year. Variations in the amounts remitted in May and in July and August shift
property tax receipts between fiscal years which can skew growth rates reported for both. Please refer to the
previous page for assumed growth.
The February spike in 2017-18 revenue (and its echoing drop in 2018-19) in the chart below can be attributed to
early tax payments made by property owners in response to federal income tax deduction changes. The
pandemic's impact to remittances (vs property values) is reflected in the partially delayed May remittance from
the County, received in June in 2019-20. Receipts since the pandemic have been lower than plan and are
attributed to delinquent payments, though there was an increase in receipts in 2021-22. Lower collections are
presumed for the rest of 2021-22. The estimate for 2022-23 assumes growth based on historical receipts.

Secured Property Tax - 12-Month Moving Sum
(Million Dollars)
2,000
- -Actual 1 7 '3.6
1,800 □ Adopted Revenue •
- J~i 1?7 2.4
1,600 • Estimated Revenue ~
1,b 00.L
,Lr-"
1,400 .---J\J
- U'-
1,200
~
~__,-"'
1,000 -
800
12 13 14 15 16 17 18 19 20 21 22 23
Fiscal Year Ending
27