What are the city’s primary sources of revenue?
- Property taxes (35%)
- Local Option Sales Tax (9.2%)
- Contribution from other Local Units (e.g. JEA) (7%)
- Utility Tax (6.1%)
- ½ cent sales tax (5%)
- Solid Waste charges (5%)
- State Revenue Sharing (3.1%)
- Communication Services Tax (3.1%)
- Franchise Fees (3%)
- Local Option Gas Tax (1.9%)
- Stormwater Charges (1.9%)
- All Other Revenues (19.6%)
What portion of the city’s budget is funded by property taxes?
35% of the total budget and about 49% of the General Fund – GSD Budget.
Why can’t the city increase sales taxes to pay for new police officers or Special Events instead of relying on property taxes?
By state law, sales taxes can only be used for capital improvement projects such as roads, or in the case of the Better Jacksonville Plan specific buildings and other public works projects. That revenue cannot be used to finance recurring government expenses.
Are pensions fully funded by the taxpayers?
No. City employees pay into their pension program. General employees pay 8 percent of their salaries into the pension fund. Each year, the actuary determines the city’s contribution based on the amount of money needed to keep the fund solvent. When the stock market was high, the city’s contribution was low (3.1 percent in 2005-2006), but when the market is down, the city must contribute more. The city’s current contribution rate is 13.5 percent.