City government · Covington City, VA

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

In the latest recorded fiscal year (ended June 30, 2024), Covington took in $35.4 million and spent $31.1 million.

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

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Where it comes from

City taxes44%Fees for services (water, garbage collection)21%State tax money19%Federal tax money8.4%Fines and other7.2%

What stands out

8.4%

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

City taxes44%

Property tax
31%$11.1 million
Other taxes
7.3%$2.6 million
What's in other taxesOther selective sales taxes; occupation and business licenses and 5 more
  • Other selective sales taxes$1.3 million
  • Occupation and business licenses$630 thousand
  • Public utility taxes$355 thousand
  • Motor vehicle licenses$182 thousand
  • Tobacco taxes$75 thousand
  • Real estate and stock transfer taxes$38 thousand
  • Other licenses$18 thousand

Amounts are by Census tax category.

Sales tax
5.2%$1.8 million

Fees for services21%

Fees for services
21%$7.5 million
What's in fees for servicesOther service charges; water and 3 more
  • Other service charges$2.4 million
  • Water$1.9 million
  • Garbage collection$1.7 million
  • Sewer$1.5 million
  • Parks and recreation$111 thousand

Amounts are by Census type of charge.

Federal tax money8.4%

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

From the federal government
8.4%$3.0 million

State tax money19%

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

From the state
19%$6.8 million

Fines and other7.2%

Interest, rents and other
7.2%$2.5 million
Fines
<0.1%$3 thousand

Where it goes

Water, sewer, trash and utilities18%Running the government and other costs17%Police, fire, courts and jails15%Health and hospitals13%Roads, transit and parking12%All other spending24%

What stands out

13%

of Covington's spending goes to health services and hospitals.Most U.S. cities, towns and villages of under 10,000 people spend nothing on this.

Spending by category100%

Water, sewer, trash and utilities
18%$5.5 million
What's in water, sewer, trash and utilitiesGarbage and solid waste; sewer systems and 1 more
  • Garbage and solid waste$2.8 million
  • Sewer systems$1.4 million
  • Water supply$1.3 million
Running the government and other costs
17%$5.3 million
What's in running the government and other costsOther and not broken out; government buildings and 2 more
  • Other and not broken out$2.8 million
  • Government buildings$1.9 million
  • Finance, tax collection and budgeting$630 thousand
  • Central staff services (personnel, purchasing, technology)$78 thousand
Police, fire, courts and jails
15%$4.7 million
What's in police, fire, courts and jailsPolice; fire protection and 4 more
  • Police$2.6 million
  • Fire protection$1.1 million
  • Prisons and jails$422 thousand
  • Inspections and regulation$357 thousand
  • Courts and legal services$242 thousand
  • Probation, parole and other corrections$3 thousand
Health and hospitals
13%$4.1 million
What's in health and hospitalsPublic health
  • Public health$4.1 million
Roads, transit and parking
12%$3.9 million
What's in roads, transit and parkingRoads and highways
  • Roads and highways$3.9 million
Parks, recreation and libraries
11%$3.4 million
What's in parks, recreation and librariesParks and recreation and libraries
  • Parks and recreation$3.1 million
  • Libraries$214 thousand
Housing and community development
7.5%$2.3 million
Social services
5.4%$1.7 million
What's in social servicesOther public welfare
  • Other public welfare$1.7 million
Interest on debt
0.8%$261 thousand
What's in interest on debtInterest on general debt and interest on water supply debt
  • Interest on general debt$153 thousand
  • Interest on water supply debt$108 thousand
Environment and natural resources
<0.1%$9 thousand
What's in environment and natural resourcesNatural resources, farming and conservation
  • Natural resources, farming and conservation$9 thousand
Sources and moreWhere these numbers come from and what they cover

City of Covington. 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 Covington 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.