TOTAL BUDGET - REVENUES Revenue estimates are based on actual prior year amounts, current year projections, trend analysis, and general economic forecasts. Each of the major revenue categories are discussed in further detail below the chart.

Total Revenue by Major Type Actual








191,537,886 $ 195,828,225 $ 203,202,425

Property Tax


189,508,223 $

68,168,152 52,265,494 232,719,878 124,275,602 53,060,572 38,394,474 764,712,397 144,968,089

Sales Tax

58,696,271 47,778,420 202,266,773 127,318,807 49,311,217 59,664,120 734,543,831 142,441,099

55,103,192 51,963,168 223,686,755 127,899,277 47,404,994 45,788,095 743,383,367 139,388,164

71,127,612 50,929,728 233,985,111 123,325,266 64,526,990 35,568,173

Intergovernmental Revenue

User Charges Other Revenues Interfund Transfers

Appropriated Fund Balance



149,041,097 Net Revenues $ 592,102,732 $ 603,995,203 $ 619,744,308 $ 633,624,208

Less Transfers and Internal Charges

Property Taxes The FY 21-22 adopted budget is balanced with a property tax rate of 66.25 cents, the same as the adopted rate for FY 20-21. The tax rate is allocated 62.06 cents to the General Fund, 3.50 cents to the Transit Fund, and 0.69 cents to the Housing Partnership Fund. Based on information provided by the Guilford County Tax Department, tax base growth is projected at approximately 1.52% for FY 21-22. Property taxes are budgeted at $195.8 million, an increase of $4.3 million, or 2.2%, above the amended current year budget. Property taxes make up about 26% of total revenues. Local Option Sales Tax The State of North Carolina grants counties the authority to levy a general local sales tax of up to 2.0%. Counties and transportation authorities are also authorized to levy a public transportation sales tax (subject to voter approval), and counties may authorize a restricted county purpose local sales tax of 0.25% (subject to voter approval). The general state sales tax is currently at 4.75%. Guilford County levies a 2.0% general sales tax. Sales tax distribution among jurisdictions within Guilford County is based on total tax levy of all jurisdictions. Sales tax revenue for FY 21-22 is projected at $68.2 million, representing a significant increase of $13 million above the amended FY 20-21 budget. With the effective shutdown of the economy due to COVID-19, sales taxes were expected to be considerably impacted. Fortunately, that has not been the case in the current year. Sales tax projections represent a strong 5% growth over the latest current revenues estimates for both FY 21-22 and projected FY 22-23. Local option sales tax revenues constitute about 9% of total revenues. Intergovernmental Revenue Intergovernmental revenues include those revenues that are collected by the State of North Carolina and returned to local governments, such as the Beer and Wine Tax, Utility Sales Taxes, various cable and satellite service sales taxes (now shared with local governments through the Video Services Competition Act), and portions of the state tax on gasoline. This revenue category also includes contributions from Guilford County for support for the City’s Library System, and federal and state grants that help support the Greensboro Transit Agency. Intergovernmental revenues are budgeted at approximately $52.3 million, about $300,000 more than the current year budgeted figure of $52

Adopted 2021-22 Budget


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