Sales tax revenue receipts for the month of April have improved for the City of Edmond in its 10th month of the calender year, said Charles Lamb, mayor.
The city is fortunate that collections remain above where collections were at this same point last year, City Manager Larry Stevens said.
“Our recent monthly check was a surprising 8.5 percent above the same period last year,” Stevens said before the Edmond City Council. “And as a result for the first time in four months now our cumulative percentage throughout the year has increased.
Sales tax revenue is currently 1.28 percent above last year, Stevens said. This figure does not reflect the percentage being retained by the Oklahoma Tax Commission.
“Compared with all the things we’ve seen with the state economy with a lot of cities in our metro area and around the state, we feel very fortunate in terms of our most critical revenue source,” Stevens said.
The current sales tax rate in Edmond is 8.25 percent. Of that, 4.5 percent goes directly to the state and 3.75 percent comes to the city. Edmond’s sales tax rate ranks at the bottom of the metro area with most communities at or above 8.5 percent.