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FI,LAH.ANTi)\,
<br /> BUDGET SUMMARY
<br /> 2013/14FY&2014115FY Operating Budget
<br /> The following bar graph provides a five year comparison of revenues by major revenue
<br /> categories:
<br /> 5 Year Revenue Comparison
<br /> (Millions)
<br /> Intergovernmental 1
<br /> Business License Tax a
<br /> 10/11
<br /> Recreation
<br /> •11/12
<br /> Hotel/Motel Tax in •12/13
<br /> Development Services - ■13/14
<br /> ■14/15
<br /> Other
<br /> Sales Tax
<br /> Property Tax
<br /> $0.0 $5.0 $10.0 $15.0 $20.0 $25.0 $30.0 $35.0 $40.0 $45.0 $50.0 $55.0
<br /> Tax revenues represent approximately 83% of the General Fund revenues. Property tax
<br /> (64%) and sales tax (26%) revenues represent a majority (90%) of tax revenues.
<br /> Property Tax
<br /> Property tax revenues, including secured, unsecured, supplemental, delinquent property taxes
<br /> and the amount reimbursed by the State in exchange for the reduction in vehicle license fees
<br /> are projected to increase by 1% in 2013/14FY and by 2.3% in 2014/15FY.
<br /> 2012/13FY
<br /> 2009/10FY 2010/11 FY 2011/12FY Midyear 2013/14FY % 2014/15FY %
<br /> Property Tax Categories _ Actual Actual Actual Budget Projected CImQe Projected Charge
<br /> Secured Property $39,509,558 $39,140,690 $38,748,410 $39,850,000 $40,100,000 1% $41,000,000 2.2%
<br /> Unsecured Property 2,403,347 2,395,209 2,366,462 2,350,000 2,400,000 2% 2,450,000 2.1%
<br /> Delinquent Taxes 2,281,672 1,515,543 1,445,750 1,200,000 1,200,000 C% 1,200,000 0.0%
<br /> Property Tax in Lieu of VLF 4,972,711 4,882,208 4,816,786 4,855,000 4,900,000 1% 4,900,000 0.0%
<br /> Supplemental Assessment 556,736 635,358 546,283 510,000 750,000 47% 913,540 21.8%
<br /> Total Property Taxes $49,724,024 $48,569,008 $47,923,691 $48,765,000 $49,350,000 1% $50,463,540 2.3%
<br /> Sales Tax
<br /> Sales tax is expected to increase by 3.9% in 2013/14FY and 2.8% in 2014/15FY. The
<br /> increase is primarily due to continued improvements in certain sectors of the general economy
<br /> shown below:
<br /> • 4.5% Increase in Autos & Transportation
<br /> • 5.5% Increase in Business & Industry
<br /> • 4.5% Increase in Restaurants & Hotels
<br /> • 5.0% Increase in Building & Construction
<br /> • 2.5% Increase in Food & Drugs
<br /> 3
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