1997 BUDGET - Laserfiche WebLink

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General Fund Revenue (con't) 9,000,000 8,000,000 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 Use Tax -Auto's- A 3.375% use tax is levied for the storing, using, or consuming any motor and other vehicles purchased at retail. For fiscal year 1997, 3% of the 3.375% auto use tax is budgeted in the general fund for a total of $680,000. Franchise Taxes - Franchise taxes are charged against gross receipts to utility type service providers, such as telephone, gas, electric, and cable service for the right to use the city's right-of-way and easements to provide their various services. Franchise holders and franchise rates in the city limits of Louisville include U.S. West, $8.00 per telephone per year; Public Service Company of Colorado, 3%; and Scripps Howard, 5%. Revenues are projected using historical trends adjusted for anticipated population growth for Louisville. The overall 1991 increase is anticipated at about 6.5% over revised fiscal year 1996. $620, 000. Penalties and Interest on Delinquent Taxes - Amounts assessed as penalties for the payment of taxes after their due date, and the interest charged on delinquent taxes from their due date to the date of actual payment. For fiscal year 1997 penalties and interest on delinquent taxes are estimated to be $100. Sales Tax - The largest revenue source for the general fund is Sales Tax. The amount of sales tax budgeted for fiscal year 1997 is $3,530,000 which is 36.9% higher than the budget for fiscal year 1996. This increase is due to the commercial growth that occurred in 1996. General Fund Sales Tax as a part of total General Fund Revenue 1992 1993 1994 (1 ] 1995 DOther Revenue ■Sales Tax 1996 estimate 1997 budget [1] 1994 actual includes 13 months of sales tax due to an accounting change. 48