City government · Kenton County, KY

Independence's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Independence took in $17.1 million and spent $10.9 million.

Latest recorded year: ended June 30, 2024Comes fromGoes to

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Where it comes from

City taxes68%Federal tax money20%State tax money5.5%Fines and other4.8%County and local tax money1.2%Fees for services (parks and recreation)1.2%

What stands out

22%

of Independence's money comes from a personal income tax.Most U.S. cities of 10,000 to 50,000 people get none.

City taxes68%

Property tax
31%$5.3 million
Individual income tax
22%$3.8 million
Other taxes
7.9%$1.3 million
What's in other taxesPublic utility taxes; occupation and business licenses and 2 more
  • Public utility taxes$1.1 million
  • Occupation and business licenses$112 thousand
  • Other licenses$100 thousand
  • Alcoholic beverage licenses$26 thousand

Amounts are by Census tax category.

Business income tax
6.1%$1.0 million

Fees for services1.2%

Fees for services
1.2%$201 thousand
What's in fees for servicesParks and recreation and other service charges
  • Parks and recreation$107 thousand
  • Other service charges$94 thousand

Amounts are by Census type of charge.

Federal tax money20%

Grants from Washington, paid for by the federal taxes residents also pay.

From the federal government
20%$3.4 million

State tax money5.5%

Money the state passes on, paid for by the state taxes residents also pay.

From the state
5.5%$941 thousand

County and local tax money1.2%

Money passed on by the county or other local governments.

From the county and other local governments
1.2%$213 thousand

Fines and other4.8%

Interest, rents and other
4.4%$748 thousand
Fines
0.4%$67 thousand

Where it goes

Police, fire, courts and jails37%Roads, transit and parking27%Running the government and other costs23%Parks, recreation and libraries7.5%Water, sewer, trash and utilities5.4%

What stands out

27%

of Independence's spending goes to roads, transit and parking.A typical U.S. city of 10,000 to 50,000 people spends 10%.

Spending by category100%

Police, fire, courts and jails
37%$4.1 million
What's in police, fire, courts and jailsPolice
  • Police$4.1 million
Roads, transit and parking
27%$2.9 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$2.9 million
Running the government and other costs
23%$2.5 million
What's in running the government and other costsCentral staff services (personnel, purchasing, technology) and other and not broken out
  • Central staff services (personnel, purchasing, technology)$2.0 million
  • Other and not broken out$514 thousand
Parks, recreation and libraries
7.5%$814 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$814 thousand
Water, sewer, trash and utilities
5.4%$585 thousand
What's in water, sewer, trash and utilitiesElectric power
  • Electric power$585 thousand
Sources and moreWhere these numbers come from and what they cover

City of Independence. U.S. Census Bureau, 2024 Annual Survey of State and Local Government Finances, individual unit file, fiscal year ended June 30, 2024.

What this covers. The money of City of Independence itself. Other governments that serve the same area (the city, county, school district and state) are separate and not included. Borrowing, transfers between a government's own funds, and pension trust funds are not counted as revenue.