Town government · Avery County, NC

Banner Elk's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2022), Banner Elk took in $3.6 million and spent $3.5 million.

Latest recorded year: ended June 30, 2022Comes fromGoes to

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Where it comes from

Town taxes57%Fees for services (sewer, water)34%State tax money4.7%Fines and other4.1%County and local tax money0.1%

What stands out

17%

of Banner Elk's money comes from sales tax.Most U.S. cities, towns and villages of under 10,000 people get none.

Town taxes57%

Property tax
40%$1.4 million
Sales tax
17%$609 thousand
Other taxes
<0.1%$1 thousand
What's in other taxesOther licenses
  • Other licenses$1 thousand

Amounts are by Census tax category.

Fees for services34%

Fees for services
34%$1.2 million
What's in fees for servicesSewer; water and 2 more
  • Sewer$555 thousand
  • Water$419 thousand
  • Other government-run businesses$222 thousand
  • Other service charges$15 thousand

Amounts are by Census type of charge.

State tax money4.7%

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

From the state
4.7%$167 thousand

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%$4 thousand

Fines and other4.1%

Interest, rents and other
4.1%$147 thousand

Where it goes

Police, fire, courts and jails24%Roads, transit and parking24%Water, sewer, trash and utilities23%Running the government and other costs20%Parks, recreation and libraries5.6%All other spending3.8%

What stands out

24%

of Banner Elk's spending goes to roads, transit and parking.A typical U.S. city, town or village of under 10,000 people spends 10%.

Spending by category100%

Police, fire, courts and jails
24%$838 thousand
What's in police, fire, courts and jailsPolice
  • Police$838 thousand
Roads, transit and parking
24%$825 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$825 thousand
Water, sewer, trash and utilities
23%$811 thousand
What's in water, sewer, trash and utilitiesWater supply and sewer systems
  • Water supply$627 thousand
  • Sewer systems$184 thousand
Running the government and other costs
20%$699 thousand
What's in running the government and other costsFinance, tax collection and budgeting; other and not broken out and 2 more
  • Finance, tax collection and budgeting$328 thousand
  • Other and not broken out$277 thousand
  • Central staff services (personnel, purchasing, technology)$56 thousand
  • Government buildings$38 thousand
Parks, recreation and libraries
5.6%$196 thousand
What's in parks, recreation and librariesParks and recreation
  • Parks and recreation$196 thousand
Housing and community development
3.4%$118 thousand
Interest on debt
0.4%$14 thousand
Sources and moreWhere these numbers come from and what they cover

Town of Banner Elk. U.S. Census Bureau, 2022 Census of Governments, Finance, individual unit file, fiscal year ended June 30, 2022. The Census record for this government is from the 2022 survey, the newest on file.

What this covers. The money of Town of Banner Elk 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.