General Tax Revenue Forecast

The following table and schedule outlines the non-department revenue budget unit and the expected general revenues over the next three year period. Due to COVID-19 pandemic's toll on the local and global economy we have seen a rise in unemployment and a decrease in overall spending. The largest revenue source for the County is Property Tax followed by sales tax. Multiple housing developments had started before the pandemic lending to the positive forecasting outlook on property taxes. This could change dependent on the length of the pandemic and the County is expected that multiple revisions to these revenue estimates will be required over the next three years. An increased delinquency rate on property taxes was included in the forecast. The second largest general revenue source is sales tax which makes up approximately $2 million per year of the general fund source revenues. Included in the below forecast is the Proposition 172 Sales taxes which are required to be used towards safety departments. The forecast includes expected increases to sales taxes over the next three years but will be updated depended on the economic outlook. No increased factors have been included under Transient Occupancy Taxes, Business License Taxes or Documentary Transfer Taxes do to the nature of the economic downturn.