Sales tax in Oklahoma City was up 6 percent in June compared to last year.
Collections for the month totaled $32.4 million. Sales tax is the largest single source of revenue for Oklahoma City.
June is the sixth month in a row of strong sales tax growth and brings the growth in sales tax up to 5.6 percent for the year. The June sales tax check includes actual collections for the second half of April and the first half of May.
June use tax collection was 24.8 percent above June 2011 collections and totaled $4.8 million. Use tax finished the fiscal year with growth of 20.9 percent over last year. Use tax is paid on goods purchased outside the state but used in the City.
The full June sales tax report is available at http://www.okc.gov/finance_tab/Sales_Tax_Reports/SalesTax_201206.pdf
About sales tax
The sales tax rate in Oklahoma City is 8.375 percent. The City receives 3.875 of the taxable sales made in Oklahoma City. Of that, two cents is allocated to the City’s General Fund, one cent goes to MAPS 3, three-fourths cent is dedicated to Police and Fire and one-eighth of a penny goes to the Zoo. The remaining four and a half cents belongs to the state.
Note: Oklahoma City residents who live in Cleveland and Canadian Counties pay a slightly higher sales tax rate due to their county’s jail tax.
Contact: Kristy Yager
297-2550 / 863-2831