City revenue from sales and use taxes continues to trend favorably, said City Manager Larry Stevens.
“Sales tax was up 7.3% from last August and cumulatively for the first two months it’s up 5.6%,” Stevens said before the recent Edmond City Council meeting. “Use tax was up 50% from a year ago, and cumulatively 45% for the first two months.”
August’s reimbursement from the state reflects the last half of June and the first two weeks of July.
Together these revenue sources exceed the Edmond City Council’s budget projections for the 2019-20 fiscal year. The city council budgeted 2% for sales tax growth and 5% use tax growth, Stevens continued.
“The combined sales and use tax revenue total are up almost 12% above last year for the first two months,” Stevens said.
The city also continues to lead the pack of its seven city comparison group for sales tax collection, he said.