Registry revenue trends

As the end of Fiscal Year 2010 approaches, I took a look at our monthly revenue over the past two FYs (our FY runs from July 1 to June 30). Our two biggest sources of revenue are recording fees and the deeds excise tax which is a tax based on the sales price of a property. In FY09, we collected $4,732,200 in recording fees and $4,784,190 in excise tax, for a total of $9,516,390. In FY10 up until the end of May (i.e., with one month to go), we have collected $4,367,795 in recording fees and $5,135,597 in excise tax for a total of $9,503,392. Given that June is always our busiest month and that this June will be especially busy as the federal first time home buyer tax credit expires, we will easily surpass our FY09 revenue intake in the current FY, perhaps not by enough to proclaim the recovery has arrived, but it's certainly better than another decline.