MEMO Date: January 2022 To: Audit Finance Committee From: Finance DECEMBER CITY‐WIDE TAX REVENUE Real Estate Tax The City collects property tax in the General Fund and the Health, Parks and Recreation Funds. The City receives real estate taxes in December. Taxes decreased from 2020-21 by $129,417 due the prior year recoupments issued by Jackson County that reduced the City’s assessed property valuation. Recoupments are the settlements by the residents that appeal their property valuations
Budgeted split was set with 68% to General Fund with the remaining 32% to Health Levy Fund and Recreation Prop Fund. The 32% is then split with 32% to Health Levy Fund and 68% to Recreation Prop Fund
Sales Tax As shown with the red dot on the Sales Tax revenue graph below, December sales tax collections are in line with last year’ collections. SALES TAX REVENUE ‐ GENERAL FUND 002
Annual Sales Tax Revenue General Fund 002 December 31, 2021
2,500,000.00
2,000,000.00 20,000,000 16,000,000
4,000,000 2,000,000
-
0 2019-20
2020-21
2021-22
18,295,167
6,000,000
17,745,438
8,000,000 500,000.00
16,000,000
10,000,000
15,000,000
12,000,000
1,000,000.00
17,533,711
14,000,000
9,862,997
18,000,000
1,500,000.00