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2 <br /> <br />prior to the release of the FY2020-21 County Manager’s Recommended Budget, the County <br />Manager will share detailed information on the revenue projections for the BOCC at the April <br />23, 2020 work session. The revenue sources projected to be impacted include property tax, <br />sales tax, charges for services including Planning Permits and Sportsplex user fees and <br />occupancy taxes. <br />Bonnie Hammersley made the following PowerPoint presentation: <br /> <br />FY2020-21 BUDGET PROJECTIONS <br />PRE-COVID VS POST-COVID <br />BOCC Virtual Work Session <br />Apri l 23, 2020 <br /> <br />Pre-Covid versus Post-Covid Projections <br />Pre-Covid <br />Projections <br />Post-Covid <br />Projections <br />$ <br />Difference <br />PROPERTY & PERSONAL PROPERTY TAX <br />Tax Rate Increase 1.63 0 (3,123,224)$ <br />Collection Rate Adjustment - Property Tax (Real/Personal)99.2%98.7%(781,147)$ <br />Collection Rate Adjustment - Motor Vehicles 99.9%99.4%(142,485)$ <br />SALES TAX <br />*Sales Tax Growth +5% -4.5% -9% (2,814,151)$ <br />TOTAL (6,861,007)$ <br />*Sales Tax projections includes Articles 39, 40 and 42 <br />Bonnie Hammersley said Covid-19 has challenged staff’s assumptions, and this is a <br />brief presentation to update the Board of County Commissioners (BOCC). <br />Bonnie Hammersley said the majority of the County’s revenue is made up by sales and <br />property taxes. She said the County is in the midst of a phased in tax increase, but staff will not <br />be recommending one this year (it was intended to be a 1.63 cents increase). <br />Bonnie Hammersley said the County’s collection rates are number one in the state, and <br />she is doing a modest ½ percent reduction because of the uncertainty, due to Covid-19. She <br />said staff would normally assume it would collect 99% of property tax, and this will projected at <br />half a percentage point lower. She said the state was projecting a 4-6% increase in sales tax <br />pre-Covid, and she was going to project a 5% increase; and post covid-19 projections are <br />down. She said these numbers refer to the general fund, but all funds are having these <br />measures put in place. She said post covid-19 Sales Tax Growth is projected between -4.5 to <br />-9%. She said the County’s two primary sources of revenue are anticipating a 6.8 million loss. <br /> <br />Pre-Covid versus Post-Covid Projections