City government · Essex County, MA

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

In the latest recorded fiscal year (ended June 30, 2024), Peabody took in $335 million and spent $422 million.

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

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Where it comes from

City taxes42%Fees for services (electric power, water)33%State tax money19%Federal tax money4.5%Fines and other0.8%County and local tax money0.1%

What stands out

40%

of Peabody's money comes from property tax.A typical U.S. city of 50,000+ people gets 20%.

City taxes42%

Property tax
40%$133 million
Other taxes
2.6%$8.7 million
What's in other taxesOther licenses and other selective sales taxes
  • Other licenses$4.4 million
  • Other selective sales taxes$4.3 million

Amounts are by Census tax category.

Fees for services33%

Fees for services
33%$112 million
What's in fees for servicesElectric power; water and 7 more
  • Electric power$77.5 million
  • Water$25.2 million
  • Other service charges$4.6 million
  • Parks and recreation$3.8 million
  • School tuition and transportation$358 thousand
  • Other school charges$275 thousand
  • School lunches$268 thousand
  • Other government-run businesses$55 thousand
  • Parking$14 thousand

Amounts are by Census type of charge.

Federal tax money4.5%

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

From the federal government
4.5%$15.1 million

State tax money19%

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

From the state
19%$63.6 million

County and local tax money0.1%

Money passed on by the county or other local governments.

From the county and other local governments
0.1%$370 thousand

Fines and other0.8%

Interest, rents and other
0.7%$2.4 million
Fines
<0.1%$117 thousand

Where it goes

Schools and colleges37%Running the government and other costs25%Water, sewer, trash and utilities23%Police, fire, courts and jails7.3%Parks, recreation and libraries2.0%All other spending5.8%

What stands out

37%

of Peabody's spending goes to schools and colleges.Most U.S. cities of 50,000+ people spend nothing on this.

Spending by category100%

Schools and colleges
37%$155 million
What's in schools and collegesElementary and secondary schools
  • Elementary and secondary schools$155 million
Running the government and other costs
25%$105 million
What's in running the government and other costsOther and not broken out; government buildings and 2 more
  • Other and not broken out$95.5 million
  • Government buildings$6.1 million
  • Finance, tax collection and budgeting$2.5 million
  • Central staff services (personnel, purchasing, technology)$1.2 million
Water, sewer, trash and utilities
23%$98.0 million
What's in water, sewer, trash and utilitiesElectric power; water supply and 1 more
  • Electric power$68.0 million
  • Water supply$25.1 million
  • Garbage and solid waste$5.0 million
Police, fire, courts and jails
7.3%$30.9 million
What's in police, fire, courts and jailsFire protection; police and 1 more
  • Fire protection$15.9 million
  • Police$14.8 million
  • Inspections and regulation$127 thousand
Parks, recreation and libraries
2.0%$8.3 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$6.1 million
  • Libraries$2.2 million
Roads, transit and parking
1.8%$7.5 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$7.5 million
Sent to other local governments
1.7%$7.1 million
What's in sent to other local governmentsSent to local governments: other and not broken out and sent to the state government
  • Sent to local governments: other and not broken out$5.8 million
  • Sent to the state government$1.4 million
Housing and community development
0.9%$3.9 million
Interest on debt
0.9%$3.7 million
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$3.4 million
  • Interest on water supply debt$290 thousand
Health and hospitals
0.4%$1.9 million
What's in health and hospitalsPublic health
  • Public health$1.9 million
Social services
<0.1%$353 thousand
What's in social servicesOther public welfare
  • Other public welfare$353 thousand
Sources and moreWhere these numbers come from and what they cover

City of Peabody. 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 Peabody 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.