MEMO Date: APRIL 2022 To: Audit Finance Committee From: Finance MARCH 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, March sales tax collections are in line with the last two year’s collections. SALES TAX REVENUE ‐ GENERAL FUND 002
Annual Sales Tax Revenue General Fund 002 March 31, 2022
2,500,000.00
2,000,000.00 20,000,000 18,000,000 1,500,000.00
16,000,000
6,000,000
500,000.00
14,810,170
18,295,167
17,533,711
8,000,000
16,000,000
10,000,000
15,000,000
12,000,000
1,000,000.00
17,745,438
14,000,000
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