State General Fund Revenue from Property Taxes Increased in 2016 from 2015
March 20, 2017
Revenue generated from property taxes in the State General Fund has increased from 7.91% in 2015 to 8.2% in 2016. Of the $1.85 billion receipts received in 2016, the State General Fund received $150.9 million or 8.2% in receipts from property tax. This amount has slightly increased since 2015. In 2015, the State General Fund received $146.5 million or 7.91% in receipts from property tax.
Taxes from over 40 revenue sources are deposited into the State General Fund to sustain government services. One of the major sources of funding for the General Fund is property tax. Other revenue sources from the State General Fund include insurance company premium tax, interest on the Alabama Trust Fund and other state deposits, oil and gas lease and production tax, cigarette tax, and Alabama Alcoholic Beverage Control Board profits.