2013-2014 budget - City of Syracuse

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01.1085 PILOT- SYRACUSE UNIVERSITY DOME: A payment-in-lieu-of-taxes that is paid by Syracuse University for all entertainment and
professional sporting events at the Carrier Dome. The payment is equal to a charge of $.75 per ticket on all such events, or $100,000, whichever is
greater.
01.1087 PILOT - CO-GENERATION INCOME: These revenues represent the payment-in-lieu-of-taxes made by the Project Orange Co-Generation
Plant which supplies energy to the University Hill area and sells surplus electrical power. The revenues paid to the City are a combination of an
annual payment related to property taxes, as well as additional payments, should the rate of reimbursement for electrical sales exceed certain levels.
01.1001 LESS: UNCOLLECTED TAXES - CURRENT YEAR: Beginning in 1989, the City started to budget for the uncollected portion of each year's
combined City and School District levy, that was anticipated to exceed 1% of the tax budget already added individually to the City's and School
District's tax budget as required by New York State Law. The inclusion of the Uncollected Taxes account was recommended by staff of the State
Comptroller as part of the City's efforts to be more in compliance with State finance requirements.
01.1002 SPECIAL LIGHTING TAX: Properties located in special lighting districts are assessed fees to cover the cost of installation and maintenance
of specialized street lighting. Examples of districts include the Bradford Hills area, certain streets in the Westcott area and Armory Square.
01.1003 ASSESSABLE IMPROVEMENTS: The City provides some services, namely sidewalk and vault reconstruction, and charges the taxpayer
for these improvements on the tax bill. This account records the anticipated revenues for the year.
01.1004 ASSESSABLE IMPROVEMENTS BUYOUT: Beginning each fiscal year, the General Fund makes various operating funds whole with
regards to special assessments charged on the tax levy (e.g., unimproved street charges). This negative revenue represents the difference between
the total special assessment taxes purchased by the General Fund, and the expected collections of these charges during the fiscal year.
01.1050 PRIOR YEARS' TAX COLLECTION: This revenue account represents an estimate of prior years' City and School District taxes which will
be collected in Fiscal 2012/13. The amount included in the budget is based on an average of recent years' collections. Prior to the 1994/95 budget,
the amount used for Less: Uncollected Taxes Current Year was actually a combination of prior years' tax collection and the current uncollected. The
2012/13 Budget displays both components, showing two gross amounts instead of one net figure.
01.1090 TAX FEES AND PENALTIES: These payments represent late fees and delinquency penalties for City property taxes, which accrue at 1.5%
per month for current year’s taxes (with an annual maximum rate of 12%) and fees from tax sales certificates which accrue at 1% per month.
Also included in this account are proceeds from tax sale certificates. Tax sale certificates represent unpaid taxes from previous years that are filed as
a lien on or about October 6th of each year.