Town government · Madison County, NC

Hot Springs's money: where it comes from and where it goes

In the latest recorded fiscal year (ended June 30, 2022), Hot Springs took in $1.3 million and spent $957 thousand.

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

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Where it comes from

Town taxes46%State tax money25%Fees for services (water, sewer)25%Fines and other2.7%Federal tax money1.2%

What stands out

16%

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

Town taxes46%

Property tax
29%$369 thousand
Sales tax
16%$206 thousand
Other taxes
<0.1%$1 thousand
What's in other taxesOccupation and business licenses
  • Occupation and business licenses$1 thousand

Amounts are by Census tax category.

Fees for services25%

Fees for services
25%$313 thousand
What's in fees for servicesWater and sewer
  • Water$178 thousand
  • Sewer$135 thousand

Amounts are by Census type of charge.

Federal tax money1.2%

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

From the federal government
1.2%$15 thousand

State tax money25%

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

From the state
25%$316 thousand

Fines and other2.7%

Interest, rents and other
2.7%$34 thousand

Where it goes

Water, sewer, trash and utilities49%Running the government and other costs22%Roads, transit and parking17%Police, fire, courts and jails10%Interest on debt1.1%Housing and community development0.8%

What stands out

49%

of Hot Springs' spending goes to water, sewer, trash and other utilities.A typical U.S. city, town or village of under 10,000 people spends 32%.

Spending by category100%

Water, sewer, trash and utilities
49%$471 thousand
What's in water, sewer, trash and utilitiesWater supply
  • Water supply$471 thousand
Running the government and other costs
22%$210 thousand
What's in running the government and other costsFinance, tax collection and budgeting; central staff services (personnel, purchasing, technology) and 1 more
  • Finance, tax collection and budgeting$145 thousand
  • Central staff services (personnel, purchasing, technology)$60 thousand
  • Government buildings$5 thousand
Roads, transit and parking
17%$161 thousand
What's in roads, transit and parkingRoads and highways
  • Roads and highways$161 thousand
Police, fire, courts and jails
10%$96 thousand
What's in police, fire, courts and jailsPolice and fire protection
  • Police$70 thousand
  • Fire protection$26 thousand
Interest on debt
1.1%$11 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$7 thousand
  • Interest on water supply debt$4 thousand
Housing and community development
0.8%$8 thousand
Sources and moreWhere these numbers come from and what they cover

Town of Hot Springs. 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 Hot Springs 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.