City government · Montgomery County, MD

Takoma Park's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2024), Takoma Park took in $30.2 million and spent $36.0 million.

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

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Where it comes from

City taxes72%Fees for services (parks and recreation, parking)6.7%State tax money6.3%Fines and other6.2%Federal tax money5.3%County and local tax money3.1%

What stands out

16%

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

City taxes72%

Property tax
54%$16.2 million
Individual income tax
16%$4.9 million
Other taxes
2.6%$798 thousand
What's in other taxesPublic utility licenses; other selective sales taxes and 3 more
  • Public utility licenses$488 thousand
  • Other selective sales taxes$114 thousand
  • Amusement taxes$109 thousand
  • Other licenses$82 thousand
  • Occupation and business licenses$5 thousand

Amounts are by Census tax category.

Fees for services6.7%

Fees for services
6.7%$2.0 million
What's in fees for servicesOther service charges; parks and recreation and 2 more
  • Other service charges$1.2 million
  • Parks and recreation$635 thousand
  • Parking$87 thousand
  • Garbage collection$73 thousand

Amounts are by Census type of charge.

Federal tax money5.3%

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

From the federal government
5.3%$1.6 million

State tax money6.3%

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

From the state
6.3%$1.9 million

County and local tax money3.1%

Money passed on by the county or other local governments.

From the county and other local governments
3.1%$947 thousand

Fines and other6.2%

Interest, rents and other
3.7%$1.1 million
Fines
2.5%$749 thousand

Where it goes

Running the government and other costs42%Police, fire, courts and jails23%Parks, recreation and libraries18%Housing and community development8.0%Roads, transit and parking4.1%All other spending4.8%

What stands out

8%

of Takoma Park's spending goes to housing and community development.Most U.S. cities of 10,000 to 50,000 people spend nothing on this.

Spending by category100%

Running the government and other costs
42%$15.3 million
What's in running the government and other costsOther and not broken out; central staff services (personnel, purchasing, technology) and 2 more
  • Other and not broken out$11.2 million
  • Central staff services (personnel, purchasing, technology)$1.9 million
  • Finance, tax collection and budgeting$1.3 million
  • Government buildings$760 thousand
Police, fire, courts and jails
23%$8.2 million
What's in police, fire, courts and jailsPolice and courts and legal services
  • Police$7.9 million
  • Courts and legal services$308 thousand
Parks, recreation and libraries
18%$6.5 million
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$6.5 million
Housing and community development
8.0%$2.9 million
Roads, transit and parking
4.1%$1.5 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$1.5 million
Water, sewer, trash and utilities
4.1%$1.5 million
What's in water, sewer, trash and utilitiesGarbage and solid waste; water supply and 1 more
  • Garbage and solid waste$996 thousand
  • Water supply$433 thousand
  • Gas supply$51 thousand
Interest on debt
0.7%$265 thousand
Sources and moreWhere these numbers come from and what they cover

City of Takoma Park. 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 Takoma Park 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.