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OFFICE OF THE LIEUTENANT GOVERNOR DIVISION OF REAL PROPERTY TAX OFFICE OF THE TAX COLLECTOR BRENT A. LEERDAM TAX COLLECTOR 2022 ANNUAL SPRING REVENUE ESTIMATING CONFERENCE MARCH 25, 2022 REVENUE ESTIMATE SNAPSHOT Office of the Lieutenant Governor – Real Property Tax Division Office of the Tax Collector REVENUE BREAKDOWN Revenue Category Project Count (If Applicable) Est. Revenue Fiscal Year Delinquency Collections October 1, 2022 – May 31, 2023 $28,000,000.00 2023 Current Year Collections June 1 – September 30, 2023 $33,000,000.00 2023 Delinquency Collections October 1, 2023 – May 31, 2024 $31,000,000.00 2024 Current Year Collections June 1 – September 30, 2024 $33,000,000.00 2024 FY2023 and FY2024 Total Estimated Revenue Revenue Summary FY2023: $61,000,000.00 Highlight 1: FY2023 Delinquency Collections - $28,000,000.00 Highlight 2: FY2023 Current Year Collections - $33,000,000.00 FY2024: $64,000,000.00 Highlight 3: FY2024 Delinquency Collections - $31,000,000.00 Highlight 4: FY2024 Current Year Collections - $33,000,000.00 Tax Year 2019 Amount Billed in FY2019 as of 09/30/2019 Total of Current & Prior Year Payments in FY2019 (through 10/15/2020) Current Year (CY) Payments in FY2019 (through 10/15/2020) 1st Subsequent Year (2020) Payments for 2019 2nd Subsequent Year (2021) Payments for 2019 3rd Subsequent Year (2022) Payments for 2019 (3/1/2022) Tax Yr 2019 Unpaid % (Based on CY & subsequent 3Yrs Payments for FY2019) $52,902,700.52 $65,944,395.13 $32,890,703.92 $13,872,742.26 $2,424,050.86 $726,751.41 6% Source: 2019 Tax Roll RPT Receipts RPT Receipts RPT Receipts RPT Receipts RPT Receipts Tax Year 2020 Amount Billed in FY2020 as of 09/30/2020 Total of Current & Prior Year Payments in FY2020 Current Year (CY) Payments in FY2020 1st Subsequent Year (2021) Payments for 2020 2nd Subsequent Year (2022) Payments for 2020 (3/1/2022) 3rd Subsequent Year (2023) Payments for 2020 Tax Yr 2020 Unpaid % (Based on CY & subsequent 3Yrs Payments for FY2020) $51,085,936.04 $66,637,228.99 $35,330,234.04 $5,995,095.89 $679,563.75 18% Source: 2020 Tax Roll RPT Receipts RPT Receipts RPT Receipts RPT Receipts RPT Receipts Tax Year 2021 Amount Billed in FY2021 as of 09/30/2021 Total of Current & Prior Year Payments in FY2021 Current Year (CY) Payments in FY2021 1st Subsequent Year (2022) Payments for 2021 (3/1/2022) 2nd Subsequent Year (2023) Payments for 2021 3rd Subsequent Year (2024) Payments for 2021 Tax Yr 2021 Unpaid % (Based on CY & subsequent 3Yrs Payments for FY2021) $51,545,762.15 $54,375,004.10 $25,119,610.63 $3,038,410.63 45% Source: 2021 Tax Roll RPT Receipts RPT Receipts RPT Receipts RPT Receipts RPT Receipts 23% 2021 Estimated Reasonable Allowance for Doubtful Accounts Report (ERADA) OFFICE OF THE TAX COLLECTOR 3 Year Uncollected Average: OFFICE OF THE TAX COLLECTOR REAL PROPERTY TAX FORECAST & ACTUALS YEAR DELINQUENT 2024 BILLS TOTALS FY2024 FORECAST $31,000,000.00 $33,000,000.00 $64,000,000.00 YEAR DELINQUENT 2023 BILLS TOTALS FY2023 FORECAST $28,000,000.00 $33,000,000.00 $61,000,000.00 YEAR DELINQUENT 2022 BILLS TOTALS FY2022 FORECAST $25,000,000.00 $33,000,000.00 $58,000,000.00 FY2022 ACTUALS as of March 1, 2022 $11,484,492.72 $0.00 $11,484,492.72 YEAR DELINQUENT 2021 BILLS TOTALS FY2021 FORECAST $20,000,000.00 $33,000,000.00 $53,000,000.00 FY2021 ACTUALS $29,255,393.47 $25,119,610.63 $54,375,004.10 YEAR DELINQUENT 2020 BILLS TOTALS FY2020 FORECAST $23,000,000.00 $31,650,000.00 $54,650,000.00 FY2020 ACTUALS $27,913,277.68 $37,780,274.48 $65,693,552.16 Report Date: 03/08/2022 $59,519,982.03 $47,986,140.10 $46,507,584.51 $65,713,180.30 $54,375,004.10 $11,484,492.72 $- $10,000,000.00 $20,000,000.00 $30,000,000.00 $40,000,000.00 $50,000,000.00 $60,000,000.00 $70,000,000.00 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 REVENUE COLLECTED Fiscal Year OFFICE OF THE TAX COLLECTOR - REAL PROPERTY TAX As of March 1, 2022 District Detail Records Tax Amount Due Penalty Due Estimated Interest Due Sewer Due Estimated Total Due STT 125581 $44,962,138.68 $614,209.37 $9,688,789.96 $3,891,342.66 $59,156,480.67 STXC 26984 $14,313,150.51 $129,595.62 $3,000,973.60 $1,443,955.54 $18,887,675.27 STJ 17119 $21,138,827.32 $82,199.75 $4,414,629.63 $44,425.99 $25,680,082.69 STXF 16323 $7,149,151.59 $78,288.37 $1,459,223.06 $1,001,234.90 $9,687,897.92 WI 195 $313,371.81 $960.00 $66,975.45 $0.00 $381,307.26 Total 186202 $87,876,639.91 $905,253.11 $18,630,591.70 $6,380,959.09 $113,793,443.81 OFFICE OF THE TAX COLLECTOR Summary of Delinquent Accounts by District and Year Delinquent As-of Date: 03/08/2022 OFFICE OF THE TAX COLLECTOR HOW WE ASSIST PROPERTY TAX CUSTOMERS Current Year Tax Collections Delinquent Year Collections Initiatives In-Progress Timely Bill Issuance by June 1 Free Tax Status Reports Free Online Tax Status Reports Earlier Bill Issuance Each Year Installment Payment Plans Online processing of IPAs Process Off-Island IPA Requests Online Tax Clearance Certificates Amnesty on Interest & Penalties Explore early payment options OFFICE OF THE TAX COLLECTOR THANK YOU FOR LISTENING TODAY! 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