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Home My WebLink AboutPlanning 2014-07-22 Item 5 - 2015 Comprehensive Plan - Attachment B2.A: Comprehensive Annual Financial Report (Excerpt)attachment b2.a comprehensive annual financial report CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 5 GENERAL GOVERNMENTAL TAX REVENUES BY SOURCE LAST TEN FISCAL YEARS Fiscal Year ciperty Sales & Use Utility(a) Excise Business Other(b) Total Taxes 2003 $ 9,854,007 $ 16,171,756 $ 1,591,922 $ 3,500,318 $ 431,188 $ 437,031 $ 31,986,222 2004 10,493,728 16,293,960 2,309,787 4,068,110 530,725 451,863 34,148,173 2005 10,627,410 16,887,845 2,646,356 3,222,936 408,798 831,530 34,624,875 2006 11,018,846 17,591,260 2,930,332 4,938,515 402,784 920,077 37,801,814 2007 11,177,532 19,355,867 3,666,079 4,124,168 405,973 931,173 39,660,792 2008 11,245,973 17,709,319 3,934,210 3,003,438 475,500 1,089,344 37,457,785 2009 12,190,219 14,585,015 6,172,569 2,824,407 738,341 656,730 37,167,281 2010 13,188,942 14,251,312 6,134,494 2,488,357 727,151 301,867 37,092,122 2011 13,427,139 16,113,584 5,424,643 1,780,294 667,064 622,955 38,035,681 2012 14,072,015 15,441,683 4,001,385 3,201,098 2,497,606 2,288,822 41,502,608 change 2002-2011 42.8% -4.5% 73.2% -8.5% 479.2% 423.7% 29.8Vo, Notes: ov Utility taxes enacted beginning in 2003 for electric, natural gas, cable and telephone utilities are assessed at rates of 6.0%. A utility tax was added in 2009 for solid waste and recycling assessed at a 6.0% rate. A utility tax rate of 10.0% was added in 2010 on the City's water, sewer, and stormwater utilities. (5) "Other Taxes" include a hotel/motel tax, penalties and interest on delinquent taxes and other miscellaneous fax revenues. Source: Tukw ila Finance Department CI Other O Business Tax O Excise Tax o Utilty Tax Sa les & Use Ta x O Property Tax 54 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 144 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 6 PROPERTY TAX LEVIES AND COLLECTIONS LAST TEN FISCAL YEARS Taxes Levied for Fiscal Year Fiscal Year Collected Within the Fiscal Year of the Levy Total Collections to Date Collections in -, mount. % of Levy Subsequent Years , Amount Vci of Levy 2003 $ 10,136,315 $ 9,924,909 2004 10,489,114 10,345,276 2005 10,731,724 10,593,753 2006 10,973,030 10,844,728 2007 11,177,532 10,994,127 2008 11,411,293 11,194,247 2009 12,283,193 12,017,213 2010 13,234,489 13,152,036 2011 13,385,080 13,225,338 2012 13,705,220 13,521,621 Source: King County Office of Finance 97.91% $ 98.63% 98.71% 98.83% 98.36% 98.10% 97.83% 99.38% 98.81% 98.66% 145 210,119 $ 10,135,028 143,328 10,488,604 137,447 10,731,200 124,953 10,969,681 181,457 11,175,584 213,805 11,408,051 255,352 12,272,564 38,253 13,190,289 91,997 13,317,336 13,521,621 99.99% 100.00% 100.00% 99.97% 99.98% 99.97% 99.91% 99.67% 99.49% 98.66% 55 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CllYOFTUKVV|U\.WASHINGTON SCHEDULE 7 ASSESSED AND ESTIMATED ACTUAL VALUE OF TAXABLE PROPERTY LAST TEN FISCAL YEARS Fiscal Year Real Property,- . Total Direct Tax Rate 2003 $ 2.832,422.720 $ 471,448.140 $ 80,219.849 $ 3,384090J03 $ 3.10754 2004 2.916.855.190 447.089,098 77.169,236 3,441,123.525 3.11712 2005 3.091,238.279 457.546,448 61779040 3,610.558787 3.03706 2006 3,399,709,737 482.100.071 88.123,704 3.947933.512 2.84083 2007 3.853�80,774 509,151,926 87,410,974 4,450,243,674 2.56911 2008 4,470,042,539 595,268,205 110,399,231 5,175,709,975 2.37324 2009 4.122.90.628 746710.751 112,779972 4,982,452.351 2.66345 2010 3.950.829,851 717,795,417 119,827.058 4,788,452.320 282566 2011 3.833.295.885 712,607.656 129,726.102 '4,G75,6o9J48 2.95408 2012 3J78.571J09 736,480.616 134,138,983 4,649191,308 2.98778 Note: *ReaI personal, and state public service property have been assessed at 100%of the estimated value. Source: King County Departnnt of Assessments $6,000,000,000 $5'000,000,000 $4,000,000,000 $3'000\000,000 $2,000,000,000 $1,000'000,000 $- Assessed Value By Type 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 o Public Utilities E3 Personal Property 13 Real Property 146 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 8 PROPERTY TAX RATES - DIRECT AND OVERLAPPING GOVERNMENTS (PER $1,000 OF ASSESSED VALUATION) LAST TEN FISCAL YEARS - -CITY OF TUKWILA-- Fiscal Year Special! Levy Levy Total Energency "` Tukwila; Port of Medical School Dist = Flood Hospital NWA State ` County1°> . ' Seattle" Service #406 ' ' Control District #1 Total 2003 $3.10754 $ $3.10754 $2.75678 $ 1.96799 $0.25402 $ 0.23717 $ 5.05267 $ 0.04669 $ 0.09200 $13.51486 2004 3.11712 3.11712 2.68951 1.91484 0.25321 0.23182 5.04535 0.04658 0.09039 13.38882 2005 3.03706 - 3.03706 2.49787 1.86293 0.23330 0.21982 5.01637 0.04482 0.59000 13.50217 2006 2.84033 2.84033 2.32535 1.75139 0.23158 0.20621 4.78874 0.04212 0.55652 12.74224 2007 2.56911 - 2.56911 2.13233 1.66106 0.22359 0.30000 4.73164 0.10000 0.50854 12.22627 2008 2.37324 - 2.37324 1.96268 1.51508 0.19700 0.27404 4.12360 0.09123 0.47141 11.00828 2009 2.66345 - 2.66345 2.22253 1.74587 0.21597 0.30000 3.89183 0.10514 0.53290 11.67769 2010 2.82566 - 2.82566 2.27990 1.90797 0.22366 0.30000 5.03380 0.10976 0.55753 13.23828 2011 2.95408 - 2.95408 2.42266 1.98580 0.22982 0.30000 5.44659 0.11616 0.50372 13.95883 2012 2.98778 - 2.98778 2.56720 2.11172 0.23324 0.30000 5.69832 0.13210 0.50000 14.53036 Note: ( °) Includes King County Library District tax and Ferry Source: King County Department of Assessments $3.50000 $3.00000 $ 2.50000 $2.00000 $1.50000 $1.00000 $0.50000 $- Direct Property Tax Rates 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 147 57 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 9 PRINCIPAL PROPERTY TAXPAYERS CURRENT YEAR AND NINE YEARS AGO 'Name Boeing Company WEA Southcenter LLC La Pianta LP /Segale Properties KIR Tukw ila 050 LLC /KIMCO E Property Tax Dept Walton CWWA Eproperty Tax Incorporated (McElroy) Boeing Employees Credit Union Sea -Tuk Warehouse LLC Wig Properties LLC (JC Penney) Anne Arundel Apartments LLC Jorgensen Forge Corporation Federated Department Stores (Macys) Puget Sound Energy /Gas - Electric Southcenter Corporate Square BRCP Riverview Plaza LLC Koar - Seatac Partners LP (Embassy Suites) Merrill Creek Holding LLC (Kenw orth Motors) CHA Southcenter LLC (Doubletree Inn) Harnish Group lncorporated Low e's HW Incorporated Sterling Realty Organization Hill Investment Company Qwest Corporation (US West Communications) AMB Institutional Alliance Group Health Cooperative Heitman Calwest Industrial TOTALS ype of Business. Airplane company Department Stores Com r ercial Properties Conrnerciai Properties Commercial Properties Investment Property Credit Union Food Distribution Department Stores Apartments Steel Manufacturer Department Stores Dectric /Gas Utility Hair Loss Center Commercial Properties Lodging Truck Manufacturer Lodging Truck Equipment Home Improvement Commercial Properties Commercial Properties Telephone Utility Commercial Properties Healthcare Adnvin Connzrcial Properties Property Management rcent of 2012 Total 012 Assessed` ". Assessed - 2003 Assessed Valuation Valuer °1;' Valuation Percent of 2002 Total Assessed is Value) ." 12.9% 3.9% 2.0% $ 490,724,957 10.56% $ 434,871,892 295,766,166 6.36% 132,667,647 161,151,755 3.47% 67,619,800 81,486,500 1.75% 66,723,700 1.44% 58,562,300 1.26% 19,438,600 0.6% 41,292,565 0.89% 58,056,588 1.7% 34,167,200 0.73% 18,332,500 0.5% 32,877,852 0.71% 10,694,100 0.3% 30,034,300 0.65% 29,667,335 0.64% 9,367,255 0.3% 29,561,600 0.64% 33,668,500 1.0% 26,771,162 0.58% 21,770,807 0.6% 26,070,700 0.56% 25,353,700 0.55% 22,718,522 0.49% 16,821,766 0.5% 20,112,600 0.43% 15,029,000 0.4% 17,277,300 0.37% 16,754,400 0.5% 17,150,770 0.37% 10,135,918 0.3% 16,521,414 0.36% 15,273,613 0.5% 14,292,600 0.31% 7,445,700 0.16% 6,007,100 0.2% 5,170,472 0.11% 19,556,132 0.6% 0.00% 73,517,700 2.2% 0.00% 30,012,408 1.0% 0.00% 43,561,900 1.4% 0.00% 42,612,000 1.4% 1,550,901,170 (= 33.36% $ 1,095,769,626 32.8 %.: Notes: r °) In 2012 the total assessed property value in the City of Tukwila was $4,649,191,308. ro) In 2003 the total assessed property value in the City of Tukwila was $3,384,090,709. Source: King County Department of Assessments 148 58 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION 149 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 10 RETAIL SALES TAX COLLECTIONS BY SECTOR LAST TEN FISCAL YEARS page 1 of2 Major Industry Sector 2003 - ' = = 2004 2005(a) Construction and Contracting Finance, Insurance & Real Estate Manufacturing Transportation, Communications & Utilities Wholesale - Durable /Non - durable Goods Retail Trade - General Merchandise Retail Trade - Furniture /Home Furnishings Retail Trade - Miscellaneous Retail Trade - Clothing & Accessories Retail Trade - Restaurants Retail Trade - Automotive /Gas Retail Trade - Building Materials Service Industries - Business Service Industries - Hotels Service Industries - Other All Other Categories Total Retail Sales Tax! Collections $ 1,119,595 54,992 520,474 377,596 1,761,749 2,545,631 2,304,037 1,723,147 1,197,591 933,886 847,864 763,013 530,833 361,789 507,935 292,827 $ 958,758 82,794 446,965 387,148 1,862,528 2,574,671 2,405,967 1,735,045 1,247,109 1,031,625 982,413 850,109 488,857 355,514 486,215 288,169 $ 676,427 102,130 503,778 384,703 2,337,018 2,563,103 2,342,553 1,497,474 1,636,183 1,072,275 980,006 815,379 979,752 406,547 278,041 188,540 15,842,959 $. 16,183,887 6,763,909 Notes: (a) Effective March 2005, the Department of Revenue changed reporting retail sales industries from using the Standard Industrial Classification (SIC) code to use of the North American Industry Classification System (NAICS). Retail sales tax collections prior to the time of this change have not been adjusted. By State law, the City of Tukwila is prohibited from reporting individual sales fax payers. Sources: Tukw ila Finance Department and Washington State Department of Revenue. 150 60 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION page 2 of 2 2006 2007 2009 11 2012 $ 1,166,088 $ 2,018,058 $ 1,967,785 $ 869,640 $ 917,250 $ 1,390,952 $ 961,125 93,747 121,879 118,780 119,121 99,975 115,123 143,792 450,138 590,455 375,263 246,429 387,234 232,737 390,252 436,260 483,419 492,960 440,206 441,822 405,197 432,608 2,048,517 2,457,437 1,760,449 1,436,045 1,346,750 1,119,527 1,077,613 2,667,481 2,571,601 2,231,745 2,072,356 2,068,263 2,003,947 2,000,865 2,531,049 2,399,347 1,830,576 1,304,234 1,380,407 1,771,083 1,537,143 1,642,722 1,766,853 1,718,898 1,473,496 1,521,741 1,626,452 1,703,741 1,704,213 1,838,646 2,103,630 2,017,904 2,018,304 2,037,554 2,082,930 1,119,859 1,158,424 1,312,603 1,292,252 1,342,964 1,337,067 1,472,343 1,053,184 1,026,778 1,066,183 748,482 664,310 670,806 690,076 855,243 777,870 619,657 589,341 499,383 487,620 516,861 1,141,632 1,198,690 1,129,380 868,260 882,012 932,422 928,610 453,376 531,836 548,962 453,657 428,450 459,606 487,977 278,777 294,869 318,696 283,319 215,045 202,217 234,870 205,644 179,421 185,312 208,467 366,925 553,493 381,693 17,847,930 $' 19,415,583 $ 17,780,879 14,423,209 $, 14,580,835 "$; 15,345,801 $'. 15,042,499 151 61 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION CITY OF TUKWILA, WASHINGTON SCHEDULE 11 SALES TAX RATE DIRECT AND OVERLAPPING GOVERNMENTS LAST TEN FISCAL YEARS 004" 2005 2006 2007(`) ,�`' 2008 l 2009 t °> ' 2010 2011. 2012" BASIC SALES TAX RATES City of Tukw ila Washington State King County Regional Transit Authority Metro Criminal Justice 0.84% 0.84% 0.84% 0.84% 0.84% 0.84% 0.84% 0.84% 0.84% 0.84% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 6.50% 0.15% 0.15% 0.15% 0.15% 0.15% 0.25% 0.25% 0.25% 0.25% 0.25% 0.40% 0.40% 0.40% 0.40% 0.40% 0.40% 0.90% 0.90% 0.90% 0.90% 0.80% 0.80% 0.80% 0.80% 0.90% 0.90% 0.90% 0.90% 0.90% 0.90% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% 0.10% Department of Revenue Administration Fee 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% 0.01% Total Basic Combined Sales Tax Rate SPECIAL SALES TAX RATES Restaurants ( °t Motor Vehicles (b) 8.80% 8.80% 8.80% - =:' 8.80% 8.90 ° / 9.00% .` 9.50% . ' 9 50% ,' 9.50 %, ' 9.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% 0.50% * 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% 0.30% Notes: ( °4 King County Food & Beverage tax is in addition to the combined sales tax rate for restaurants, taverns and bars. The funds are used to finance the professional baseball stadium in Seattle. * NOTE: This tax expired on October 1, 2011 as taxes imposed to pay the construction bonds for the Seattle baseball stadium expired. 01 Effective July 1, 2003, all retail sales, leases and transfers of motor vehicles are subject to the additional sales tax of three - tenths of one percent (.003). The funds are used to finance transportation improvements. (°) Effective April 1, 2007, King County increased the local sales & use tax rate one -tenth of one percent (.001). The tax will be used for transportation purposes. (0 Effective April 1, 2008, King County increased the local sales & use tax rate one -tenth of one percent (.001). The tax will be used for chemical dependency or mental health treatment services. (8 Effective April 1, 2009, the Regional Transit Authority Tax increased five- tenths of one percent (.005). The tax will be used to expand and coordinate light -rail, commuter -rail, and express bus service, and improve access to transit facilities in King, Pierce, and Snohomish Counties. Source: Washington State Department of Revenue Local Sales and Use Tax Rates. 62 152 CITY OF TUKWILA: 2012 CAFR STATISTICAL SECTION . 153 63