The Edmond Sun
There is more good news with the City of Edmond’s December sales tax revenue.
“We’re not half-way through our fiscal year. Sales tax totals continue to be extremely impressive,” City Manager Larry Stevens reported to the City Council this week.
The lastest reimbursement check from the state of $2.736 million makes the comparison from last year’s December to this December an increase of 31.31 percent, Stevens said. December of 2011 brought in $2.083 million of collected sales tax revenue.
This period includes the first two weeks of October and the last two weeks of November, he said. The six-month aggregate total is 19.97 percent, said Ross VanderHamm, city finance officer. The City Council had budgeted for a 3 percent growth factor in this year’s budget.
“We didn’t expect the hail storm (earlier this year),” said Mayor Charles Lamb about the primary construction source causing increased revenue.
The city’s sales tax is 3.25 percent. It is added to the 4.50 percent state sales tax. This figure does not take into account the additional half-cent sales tax dedicated to building the downtown Public Safety Center.