|Updated: 11/08/2012 3:53 pm
||Published: 11/08/2012 3:52 pm
Mayor Dewey Bartlett said the City of Tulsa’s sales tax revenue for mid-September to mid-October as reported by the Oklahoma Tax Commission, totaled $18,409,553 or 8.9 percent above the same period last year.
Most of the increase is due to the change in rate from 3 percent to 3.167 percent. That 0.167 percent formerly went to Tulsa County and does not represent a tax increase for Tulsans.
The additional money goes to the Fix Our Streets program. For the fiscal year-to-date, the City has received $94,212,879. General Fund revenues total $58,581,366; which is a 2.6 percent increase from the same period last year.
Use tax collections for the month are $1,743,773, up 12.2 percent from the same month last year and 5 percent above budget estimates. So far this fiscal year the city has received $8,682,773 in use taxes, up 11.6 percent from the $7,776,049 received for the same period last year.
City Finance Director Mike Kier noted that, overall, the sales tax is showing modest growth and total collections are slightly above budget estimates so far this fiscal year.
Kier said when general fund sales tax revenues for the July-November period this year are compared to the same period in 2008, this year’s total is 1.2 percent, or about $1.1 million, below that of four years ago.
“We are glad to see a positive trend in our sales taxes, but are still barely returning to revenue levels we had in 2008,” Mayor Dewey Bartlett said. “Sales tax is the life blood of our community, and with the holiday season approaching, we urge citizens to remember to shop in the city limits of Tulsa.”