The City of Tulsa’s August sales tax check, which covers the period from mid-June to mid-July as reported by the Oklahoma Tax Commission, totaled $19,649,376. This total is nearly flat compared to one year ago – showing a 0.3 percent decrease, yet on target for budget estimates – 0.01 percent over the budget prediction for the month.
Sales taxes collected for the current fiscal year that began in July total $39,083,481, showing a decrease of 1.3 percent compared to one year ago. The decrease in revenue is also 1.2 percent below the budget estimate for this fiscal year.
“We continue to feel the effects in our city of the statewide economic downturn related to oil industry issues,” said Mayor Dewey F. Bartlett Jr. “We have budgeted conservatively for this fiscal year. Our estimate is relatively close to revenue collections, yet six of the past seven months have shown decreases from one year ago.”
Use taxes for August totaled $1,904,175, which is down 11.0 percent from the same period a year ago, and 1.5 percent below the budget estimate. Use taxes for the fiscal year so far total $3,624,209, which is down 10.4 percent from one year ago and 2.9 percent below the budget estimate.