Town government · Lexington County, SC
Summit's money: where it comes from and where it goes
In the latest recorded fiscal year (ended June 30, 2024), Summit took in $73 thousand and spent $68 thousand.
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Where it comes from
What stands out
of Summit's money comes from taxes other than property, sales and income taxes.A typical U.S. city, town or village of under 10,000 people gets 2.5%.
Town taxes82%
What's in other taxesOccupation and business licenses and public utility licenses
- Occupation and business licenses$39 thousand
- Public utility licenses$14 thousand
Amounts are by Census tax category.
State tax money14%
Money the state passes on, paid for by the state taxes residents also pay.
Fines and other4.1%
Where it goes
What stands out
of Summit's spending goes to running the government and other costs.A typical U.S. city, town or village of under 10,000 people spends 22%.
Spending by category100%
What's in running the government and other costsGovernment buildings; other and not broken out and 1 more
- Government buildings$41 thousand
- Other and not broken out$17 thousand
- Finance, tax collection and budgeting$5 thousand
What's in parks, recreation and librariesParks and recreation
- Parks and recreation$5 thousand
Sources and moreWhere these numbers come from and what they cover
Town of Summit. 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 Town of Summit 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.