REVENUES AND EXPENDITURES garnernc . gov
Sales / services ( 1.7 %)
Intergov ’ t .
( 7.8 %) Permits and fees ( 10.4 %)
Other taxes
( 20.7 %)
FY 21-22 BUDGET BREAKDOWN BY PERCENTAGES
Revenues
Investment earnings / other ( 1.4 %)
Property taxes ( 58.0 %)
Environmental protection incl . solid waste ( 5.5 %)
Cultural / recreational
( 13.6 %)
Transportation incl . street maintenance ( 13.2 %)
Debt service ( 9.1 %)
Expenditures
Public safety ( 37.2 %)
General government ( 21.4 %)
TOTAL GENERAL FUND revenues for FY 21-22 were $ 46.2 million . The property tax rate increased by 1.5 cents to $. 5121 per $ 100 of assessed value . The new rate was needed to fund critical operating requirements including additional police officers and a new community risk captain for Garner Fire-Rescue .
Property taxes account for nearly 58 percent of all revenues . Property taxes ( excluding registered motor vehicles , which are collected by the N . C . Division of Motor Vehicles ) are assessed and collected by Wake County and remitted to the Town throughout the year .
Other taxes , which include the Town ’ s share of statewide sales taxes and ABC revenue , account for 20.7 percent of all revenues . Collections during this fiscal year increased 12.1 percent over the prior period . This category was carried by a strong local economy that boosted sales tax revenues .
The Town also received 10.4 percent of its revenues from permits and fees . The primary revenue in this category is building permit fees , accounting for 50.7 percent of these revenues . Fees in lieu of parkland , which are paid by residential developers , are another revenue
REVENUES ( 3-YEAR TREND )
|
FY 19-20 |
FY 20-21 |
FY 21-22 |
Property taxes |
$ 21,511,829 |
$ 24,227,212 |
$ 26,803,879 |
Other taxes and licenses |
7,316,038 |
8,519,512 |
9,550,714 |
Intergovernmental revenues |
3,355,484 |
4,103,224 |
3,624,180 |
Permits and fees |
2,197,084 |
2,339,338 |
4,788,172 |
Sales and services |
550,101 |
470,445 |
806,313 |
Investment earnings |
534,029 |
35,463 |
( 149,032 ) |
Other revenues |
354,615 |
317,642 |
795,324 |
TOTAL |
$ 35,819,180 |
$ 40,012,836 |
$ 46,219,550 |
12 | POPULAR ANNUAL FINANCIAL REPORT 2022