WHERE DOES THE CITY OF DESOTO RECEIVE ITS FUNDS? REVENUE AT A GLANCE
Property Taxes represent 28.88% of total revenue budget. This revenue is based on the assessed value of commercial, residential, and business personal property in the City of DeSoto. The City of DeSoto earns its funds from property taxes, charges for City services and sales taxes.
The assessed value is multiplied by the tax rate of $.685092 per $100 valuation .
Charges for services represent 22.82% of total budgeted revenues. They consist of revenue earned by the City in exchange for specific types of services provided. Examples of services include water sales, sewer service charges, sanitation fees, alarm monitoring revenues, storm drainage fees and ambulance services. Sales Taxes comprise 8.29% of the total budgeted revenues. The City receives 2% on top of the 6.25% remitted to the State for the sale of goods and services in DeSoto (totaling 8.25%).
Sales tax revenue is allocated to the General Fund and the DeSoto Development Corporation.
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