Sales tax data

Revenue may have slowed a little but remains healthy according to the latest sales tax data provided by the City of Edmond.

 

 

The city’s sales and use tax collections remains strong in January with the monthly reimbursement check from the state.

Slight decreases are evident from the previous month, said Larry Stevens, city manager. Steven said year-to-date sales tax collections are 6.5% above last year, but decreased slightly from the 7.5% added revenue from December.

“Similarly use tax revenue for the year is up almost 16%, but down slightly from the 20% total a month ago,” Stevens said before the Edmond City Council on Tuesday. “These collections have also declined from the previous year in two of the last three months.”

Stevens has previously explained that use tax collections are expected to increase at a slower pace because fewer use tax collectors are being added.

“Combined sales and use tax collections are up a little more than 8.5% from a year ago, but then again slightly down from the 10% total of a month ago,” Stevens said.

 Both sales and use tax revenues remain healthy, and exceed the city council’s budget projection of 2% growth for sales tax, and 5% growth for use tax, he said.

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