CAFR 2017

Tax rates for the current and three preceding fiscal years were adopted, as follows, at the same overall rate, however, different allocations among purposes are noted: 2017 2016 2015 2014 General Fund $.5856 $.5872 $.5872 $.5872

Economic Develop. Housing Partnership Transit Authority

.0050 .0069 .0350 $.6325

.0050 .0069 .0334 $.6325

.0050 .0069 .0334 $.6325

.0050 .0069 .0334

Total Tax Rate $.6325 The local option sales tax collection amounted to $50,242,614 as compared to the previous year's collection of $47,442,711, an increase of approximately $2.8 million or 5.9% from last year, however, we note a 21.5% gain in the ten year trend for this revenue source. Guilford County uses the “ad valorem” (property tax) method to distribute its allocated sales tax receipts to municipalities within the County and as a result, sales tax receipts for Greensboro may fluctuate from year to year, depending on the proportion of property tax levies of each of the municipalities within the County, compared to the total collected. Greensboro’s FY 2017 share of the sales tax distribution increased due to a decline in Guilford County’s property tax rate from FY 2016 to FY 2017, however, healthy gains were also noted in retail sales activity this year. Local option sales taxes represent approximately 18.7% of overall general fund revenues in FY 2017. The total sales tax rate in Guilford County is 6.75% with 4.75% charged for the general state rate and 2.00% charged for the local option. The local option sales tax currently in effect is distributed to the County as follows, with subsequent distribution to Greensboro and the other municipalities in the County, based on the “ad valorem” method: Article 39 (1%) Point of Origin Article 40 (1/2%) Per Capita Article 42 (1/2%) Point of Origin Greensboro’s occupancy tax collection of $4,075,208 has increased 32.1% over the ten-year period ending June 30, 2017 and generated a 4.3% gain this year. Construction of three new hotels are planned or underway in downtown Greensboro. Intergovernmental Revenues amounted to $52,613,376 as compared to previous year revenues of $55,388,556. State-shared and grant revenues are a major source of funding for municipal operations and services, with intergovernmental revenues comprising 17.5% of total general governmental revenues, as compared to 18.9% in the previous year. Licenses and permits amounted to $4,281,430 compared to previous year revenues of $4,390,773 a decrease of 2.5%. Fines and forfeitures amounted to $2,019,877 as compared to the previous year's collection of $1,864,116, an increase of 8.4% over last year. The increase was primarily due to increased parking violation collections. Charges for current services amounted to $24,204,933 as compared to the previous year's revenue of $19,919,398 an increase of 21.5% primarily due to an increased motor vehicle fee from $10 to $30 for street and sidewalk improvements and an increase in 911 surcharge revenue for the Emergency Telephone System Fund

2r