Tulsa’s sales tax revenue continues to drop.
The City of Tulsa’s July sales tax check, which covers the period from mid-May to mid-June as reported by the Oklahoma Tax Commission, totaled $19,434,105 showing a 2.3 percent decrease from the same period one year ago.
This total is 2.4 percent below budget estimates.
“Our local economy reflects our statewide economy right now, having experienced a recent recession because of difficulties in the oil industry,” said Mayor Dewey Bartlett. “As the City of Tulsa begins a new fiscal year, we must stay within our budget and focus on providing quality services to our citizens.”
Use taxes for July totaled $1,720,034, which is down 9.7 percent from the same period a year ago, and 4.4 percent below budget estimates.
July is the first month of the City of Tulsa’s 2016-2017 fiscal year. For the 2015-2016 fiscal year just ended, sales tax collections were basically flat – at $236.4 million, showing a 0.6 percent increase from the previous fiscal year. Use taxes for the 2015-2016 fiscal year also were flat – at $24.1 million, showing a 0.4 percent increase from the previous fiscal year.
Sales tax and use tax collections provide two-thirds of the City of Tulsa’s general fund. Services such as police and fire protection, 911 emergency dispatch, snow and ice removal from streets, pothole repair and mowing of grass in medians and parks are supported by sales and use taxes.
Tulsa voters passed a huge $884,000,000.00 sales tax increase in April that will take effect in January.