EXECUTIVE SUMMARY

REVENUES: WHERE THE MONEY COMES FROM

See the Revenue Forecast chapter of this document for detailed information on revenues

Total revenue in all budgeted funds is projected to be $860.2 million in 2023, an increase of $25.2 million or 3.0% from the 2022 revised estimate of $835.0 million. Revenue from taxes (property, sales, utility gross receipts, casino, emergency telephone, and hotel/motel) account for 74.6% of the total. The remaining 25.4% is composed of revenue generated through program activities, intergovernmental (state/federal) revenue, and other sources. Over half (52.1%) of all revenues collected are received in the general funds, and nearly a quarter (24.8%) are dedicated for transportation purposes. The remaining revenues are received in special revenue, enterprise, debt service, and transportation capital construction funds.

2023 Projected Revenues by Category ($860.2 million)

Highlights of the 2023 revenue projection include:

 Property Tax (+1.4%): anticipating increasing property values resulting from the 2023 reassessment, minor growth is forecasted due to allowances for inflation and new construction authorized in state law.

 Sales Tax (+5.0%): continued revenue growth due to higher prices and consumer demand.

 Hotel/Motel Tax (+10.0%) and Casino Taxes (+3.6%): continued recovery from the pandemic although not yet exceeding pre‐pandemic (2019) highs.

 Federal Housing revenue in the Justice Center to return ($2.1 million) if staffing levels are high enough to open additional pods.

 Fuel sale revenue, primarily at Spirit of St. Louis Airport, to remain high.

The revenue projection does not include other significant sources of revenues that may be received during 2023. These include a judgment related to the utility gross receipts tax, opioid litigation settlements, the NFL settlement, or and sale of county property. These items may be added to available revenues when finalized.

Total Revenue by Category ($ in millions)

The county’s largest sources of revenue are sales tax and property tax. The county’s nine sales taxes produce 53.7% of all projected revenue in the budget while property tax produces another 15.2%. Sales tax revenues are estimated to increase by $30.1 million or 7.3% in 2022 and another $22.0 million or 5.0% in 2023. This projection is intended to be conservative due to the unknown impact inflation and other economic factors. These revenues are closely monitored, and estimates are adjusted throughout the year as new data becomes available.

Projected Sales Tax Revenue

The last time the county’s property tax rate was increased was 1984. The 2023 property tax rate remains unchanged from the 2022 level at 41.8 cents per $100 of assessed valuation for residential real estate. Revenue from property tax is projected to increase by $1.8 million or 1.4% in 2023.

Although taxpayers submit their entire property tax bill to the St. Louis County Collector of Revenue, the county distributes most of this money to other taxing districts, such as schools, municipalities, service, and other taxing districts. In 2021, property taxes supporting county operations and debt service were responsible for 4.7% of the average taxpayer’s bill.

Where Your Property Tax Dollar Goes

ST. LOUIS COUNTY PROPERTY TAX RATES (RESIDENTIAL REAL ESTATE)