MEMO Date: December 2021 To: Audit Finance Committee From: Finance NOVEMBER 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 November. 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
General Fund Health Levy Fund Recreation Prop Fund Total
2021‐22 $5,704,254 858,994 1,825,361 $8,388,609
2020‐21 $5,789,755 873,047 1,855,224 $8,518,026
Property Tax Comparison Year 2020-21 vs 2021-22 10,000,000 General Fund 8,000,000 6,000,000
1,825,361
1,855,224
858,994
873,047
Health Levy Fund Recreation Prop Fund
4,000,000
5,704,254
5,789,755
2021-22
2020-21
2,000,000 0