2013-2014 budget - City of Syracuse

SALE OF PROPERTY
37
01.2650 SALE OF SCRAP PROPERTY: Proceeds from the sale of scrape property.
01.2660 SALE OF REAL PROPERTY: Properties that are seized by the City for failure to pay taxes are sold at the appraised market value. These
revenues represent income that comes to the City in the event that the sale price of the property exceeds the amount of taxes and other charges (title
searches, appraisal fees and other costs incurred in the sale of the property), which are owed.
01.2675 GAIN ON DISPOSAL OF ASSETS: The City of Syracuse holds approximately eight auctions and four sealed bid sales per year. Items
included in these auctions and sales include equipment no longer usable by the City departments. The primary source of revenue from this account is
generated from the vehicle auction. Other items often included are desks and various office equipment, and police-recovered stolen
or unclaimed property such as bicycles, stereos, televisions, etc.
STATE AID
$120,000,000
01.3005 MORTGAGE TAX: The Mortgage Tax is a
State tax administered by the recording officer of each
county. The tax is imposed at the rate of $1.00 for each
$100 of debt secured by a mortgage on real property.
Each county retains $.75 of this portion, while the
remaining $.25 is paid over to the New York Mortgage
Agency. After deducting the expenses of administration
and collection, Onondaga County distributes the net
amount to the City and towns according to the amount
collected within their territory.
$100,000,000
$80,000,000
$60,000,000
01.3008 STATE HIGHWAY AID: The City of Syracuse
receives revenue from this State program (CHIPS--
Consolidated Local Street and Highway Improvements
Program) by submitting annual calculations of road
mileage and records of expenditures on street repair,
reconstruction and cleaning to the State Department of
Transportation. Revenue is dependent on continuing
current expenditure levels; at least 75% of the aid must
be spent for capital work.
$40,000,000
$20,000,000
$0
2005/06 2006/07 2007/08 2008/09 2009/10 2010/11 2011/12 2012/13
projected
State Aid
2013/14
budgeted