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Oklahoma City's February sales tax report
The February sales tax report shows General Fund collections in Oklahoma City were down 5.8 percent compared to the same month last year, below the monthly projection by 3.9 percent.
The February report includes collections for the last half of December and estimated collections in the first half of January, which total about $18.1 million for the General Fund. That’s around $733,000 below the projection.
February is the eighth month of the fiscal year, and General Fund sales tax revenue is about 0.7 percent (about $1 million) below the amended year-to-date projection.
General Fund sales tax revenue has declined compared to the same month the previous year in 16 of the last 17 months, including 10 in a row.
The General Fund pays for the City’s day-to-day operations. Sales tax is the City’s largest single source of revenue.
The City collected around $35.1 million in total sales tax revenue during the February reporting period, including collections for the General Fund, MAPS 3, Police, Fire and the Zoo.
Read the full February sales tax report here.
About sales tax
The sales tax rate in Oklahoma City is 8.375 percent, and 3.875 cents of each dollar in taxable sales goes to the City. Of that, two cents is allocated to the City’s General Fund, one cent goes to MAPS 3, three-fourths of a cent is dedicated to Police and Fire, and one-eighth of a cent goes to the Zoo. The rest of the sales tax belongs to the state.
Note: Oklahoma City businesses located in Cleveland and Canadian Counties collect a slightly higher sales tax rate due to County sales tax.
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