There are more ways than ever to stay updated on City of OKC news and events.

Check out our news releases below. You can also engage with us on social media, subscribe to our email newsletter and news alerts and download our smartphone apps. You can watch City of OKC news programs and more on Cox Channel 20, which is streamed live on our YouTube channel.

Oklahoma City’s May sales tax summary

Post Date:05/22/2018 11:44 AM

The May sales tax report shows General Fund collections in Oklahoma City were up 18.4 percent compared to the same month last year, above the amended monthly projection by 3.9 percent.

The May report includes collections for the last half of March and estimated collections in the first half of April, which total about $21.8 million for the General Fund. That’s around $825,000 above the amended projection.

May is the 11th month of fiscal year 2018. General Fund sales tax revenue is 3.1 percent (about $6.3 million) above the amended year-to-date projection.

The May report is the 13th straight month of increased sales tax revenue compared to the same month the previous year, which follows a year-long streak of declines.

A ¼ cent General Fund sales tax increase approved Sept. 12 by voters took effect Jan. 1. This is the fourth sales tax report showing revenue with the new tax rate. The higher sales tax rate contributed to the growth in General Fund revenue. The underlying growth in sales tax excluding the higher rate was about 5.4 percent for May.

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 $40 million in total sales tax revenue during the May reporting period, including collections for the General Fund, Police, Fire, the Zoo and Better Streets, Safer City.

Read the full May sales tax report here.

About sales tax

The overall sales tax rate in most of Oklahoma City is 8.625 percent, and 4.125 cents of each dollar in taxable sales goes to the City. Of that, 2 ¼ cents is allocated to the City’s General Fund, one cent goes to Better Streets, Safer City sales tax projects, 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.

# # #

Media Contact
Kristy Yager
(405) 297-2550 / (405) 863-2831
kristy.yager@okc.gov

Return to full list >>

Free viewers are required for some of the attached documents.
They can be downloaded by clicking on the icons below.

Acrobat Reader Download Acrobat Reader Flash Player Download Flash Player Windows Media Player Download Windows Media Player Microsoft Silverlight Download Microsoft Silverlight Word Viewer Download Word Viewer Excel Viewer Download Excel Viewer PowerPoint Viewer Download PowerPoint Viewer