Revenues
Expenditures
Revenues( 3-Year Trend)
TOWN OF GARNER / FINANCE
GarnerNC. gov
Town Revenues and Expenditures
Other revenues( 0.7 %)
Investments( 3.2 %)
Sales / services( 1.6 %)
Permits / fees
( 7.5 %)
Intergov’ t( 6.8 %)
Other taxes
( 16.1 %)
FY 24-25 Budget Breakdown by Percentages
Revenues
Property taxes( 64.1 %)
Environmental protection incl. solid waste
( 5.5 %) Cultural / recreational
( 9.2 %)
Debt service( 11.1 %)
Transportation incl. street maintenance( 7.7 %)
Expenditures
Public safety( 39.0 %)
General government( 27.5 %)
TOTAL GENERAL FUND REVENUES for FY 24- 25 were $ 77.2 million. The property tax rate was decreased to $. 52 per $ 100 of assessed value. The rate decrease is attributed to a revaluation of all property in Garner. The adopted tax rate is 8.5 cents above the advertised revenue neutral tax rate. 8.5 cents of the tax rate is dedicated to the debt service funds to pay for the costs of capital projects such as those in the $ 69 million bond package that Garner voters overwhelmingly approved in the 2021 municipal elections.
Property taxes account for 63.8 percent of all revenues. Property taxes( excluding registered motor vehicles, which are collected by the N. C. Division of Motor Vehicles) are assessed and
FY 22-23 FY 23-24 FY 24-25 Property taxes $ 30,528,827 $ 37,957,195 $ 49,237,995 Other taxes and licenses 10,582,534 11,073,560 12,495,430 Intergovernmental revenue 3,883,395 4,340,979 5,292,880 Permits and fees 4,752,262 6,290,315 5,832,218 Sales and services 1,067,396 1,019,630 1,263,032 Investment earnings 877,131 2,206,724 2,505,215 Other revenues 376,485 528,325 594,176 Total $ 52,068,030 $ 63,416,728 $ 77,220,946
12 | POPULAR ANNUAL FINANCIAL REPORT 2025
Revenues( 3-Year Trend)
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 16.2 percent of all revenues. Collections during this fiscal year increased 12.8 percent over the prior period. The main driver of growth in this category was robust local sales and use tax revenues.
The Town received 7.6 percent of its revenues from permits and fees. The primary revenue in this category is building permit fees accounting for 88.6 percent of all sales and service revenues. This category is representative of the explosive