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Lexington staff reports sales tax lag and $163,000 property‑tax shortfall; overall surplus outlook reduced
Summary
City staff told the Lexington City Council that sales tax collections have trailed budget expectations and that property‑tax collections are about $163,000 below forecast; staff will investigate timing and causes.
City staff told the Lexington City Council that sales tax collections have trailed budget expectations during the fiscal year and that property‑tax collections are running below budget, creating a roughly $163,000 shortfall in property taxes the city is investigating.
A staff presenter said, "sales tax has been falling behind what's budgeted throughout the year" and added that "we missed our property tax collections by about a 163,000." The presenter said first‑half property tax collections had been "bang on" and that staff must analyze whether missed payments reflect…
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