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So
how many dollars will 29 Mills bring in to the general
operating budget of the city?
In fiscal year
2000, tax on Real property in Ocean Springs produced just
over 1.3 million dollars for the General Operating Fund.
Personal Property and auto taxes produced another 408
thousand dollars. And approximately 200 thousand was
collected in interest and penalties.
Total property tax revenues for our city in fiscal 2000
was $1,949,288.
This year, property tax revenues are
expected to be just over 2.3 million dollars.
To put that in perspective, the projected cost of
providing police and fire protection this year is in excess
of 3.8 million dollars. In fact, total expenditures for
the city services that are funded by the General Fund for fiscal 2002,
are projected to
be well in excess of 8 million
dollars!
There are other services provided by the
city that are not funded through taxes but through fees. I
am referring to water, sewer, and garbage
collection. Ocean Springs relies heavily on Sales Tax
revenues. These funds make up a significant portion of
the city's total revenues. In Mississippi, cities receive
"sales tax diversions" from the state every
month. These funds represent the City's portion of the
retail taxes collected within the corporate limits from a prior month. Of the 7% collected in retail sales tax
on every dollar spent within our city limits, 18.5% is rebated or "diverted" back to the
city. To review how Ocean Springs stacks up against other
Mississippi communities in sales tax receipts click
here.
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