City News

Press Enter to show all options, press Tab go to next option

Oklahoma City’s December sales tax summary

Post Date:12/18/2018 10:15 AM

The December sales tax report shows General Fund collections in Oklahoma City were up 17.7 percent compared to the same month last year, above the monthly projection by 1.5 percent.

The December report includes collections for the last half of October and estimated collections in the first half of November, which total about $21.1 million for the General Fund. That’s around $311,000 above the projection.

December is the sixth month of fiscal year 2019. General Fund sales tax revenue is 1 percent (about $1.3 million) above the year-to-date projection.

A ¼ cent General Fund sales tax increase approved in September 2017 by voters took effect Jan. 1. This is the 11th 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 4.7 percent for December.

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 $39.3 million in total sales tax revenue during the December reporting period, including collections for the General Fund, Police, Fire, the Zoo and Better Streets, Safer City.

Read the full December 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

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