MEMO Date: JUNE 2022 To: Audit Finance Committee From: Finance APRIL 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
Sales Tax As shown with the red dot on the Sales Tax revenue graph below, April sales tax collections are slightly higher than the last two year’s collections. SALES TAX REVENUE ‐ GENERAL FUND 002
Annual Sales Tax Revenue General Fund 002 April 30, 2022
2,500,000
20,000,000
2,000,000
18,000,000
1,500,000
14,000,000
6,000,000
500,000
18,295,167
17,745,438
8,000,000
17,533,711
10,000,000
16,000,000
1,000,000
15,000,000
12,000,000
16,243,637
16,000,000
4,000,000 2,000,000 -
0 2016-17 2017-18 2018-19 2019-20 2020-21 2021-22 2019-20
2020-21
2021-22