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. The COVID-19 Pandemic made shockwaves throughout the economy, but surprisingly enough the damage done to the revenue estimates was minor. The largest revenue source for the County is Property Tax followed by sales tax. Multiple housing developments continued through the pandemic lending to the positive forecasting outlook on property taxes. The states focus on increasing available housing and low-income housing is part of a push to continue housing developments in the county. Even with a large Property Tax base, 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 a little over $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, this allocation is determined by the State. The forecast includes expected increases to sales taxes over the next three years but will be updated depended on the economic outlook. Marginal increases are being reported for Transient Occupancy Tax and Business License Tax as we continue to emerge from the aftermath of the COVID-19 pandemic. No increased factors have been included under Documentary Transfer Taxes.