Tulsa Reports Increase In Sales Tax Receipts
TULSA, Oklahoma - The City of Tulsa says its April sales tax check was 3.9 percent above budget estimates.
The city says the check covers the period from mid-February to mid-March and totaled $19,851,132, an 11.7 percent increase from the same period one year ago, according to a news release.
The city said sales tax collections for the fiscal year have mostly remained flat until this month. The sales tax total since July 2015 is $197.9 million compared with $195.7 million for the same period last year, showing an increase of 1.1 percent, the release says.
Use taxes for April totaled $1,871,081, a 7.2 percent increase from the same period a year ago and 2.1 percent below budget estimates.
Use tax collections for the fiscal year are lower than one year ago. The use tax total since July 2015 is $19.6 million compared with $20 million for the same period last year, showing a two percent decrease.
“The sales tax report for April is welcome news following two months of declines in the sales tax over last year’s results," said Finance Director Mike Kier. "Total collections for the fiscal year remain below the budget and growth rate excluding a decrease in the fee paid to the Oklahoma Tax Commission, which remains in the neighborhood of 0.6 percent.”
“We expect to receive and analyze detailed information for the April report over the next 30 days. This information may help us understand the notable change from the previous two months in particular and the other months of the fiscal year in general. Other data on the unemployment rate, employment and job announcements seem to indicate a continued softness in the local economy especially influenced by the state of the oil and gas industry,” Kier noted.
Sales tax and use tax collections provide two-thirds of the City of Tulsa’s general fund. The money pays for police and fire protection, 911 emergency dispatch, snow and ice removal from streets, pothole repair and mowing of grass in medians and parks.