Major Revenue Comparison All Funds
Property Taxes represent 29.23% of total budgeted revenues. This revenue is based on the assessed value of commercial, residential and business personal property in the City of DeSoto. The assessed value is multiplied by the tax rate of 68. 4934 cents per $100 taxable valuation. Sales Taxes comprise 8.34% of the total budgeted revenues. The city receives 2 cents of the total 8.25% remitted to the State for the sale of goods and services in DeSoto. 1.5 cents is allocated to the General Fund and .5 cents to the DeSoto Development Corporation according to a formula specified by City Council. Franchise Fees make up 2.67% of the total budgeted revenues. This fee is charged to specific utilities that conduct business in DeSoto and is based on gross receipts. The City also receives franchise fees from its Public Utility enterprise fund that provides water and wastewater treatment services to DeSoto residents and businesses. Intergovernmental revenue represents 3.87% of the total budgeted revenues. These funds represents revenue from federal or state grants, other local government entities, participant share income from regional dispatch and jail, reimbursements from other government entities, and state- and federal- 100
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