Sales tax collections for most of August and early September sales are up more than 19 percent compared to the same period last year, CFO/City Clerk/Treasurer Jason Muninger said this week.
According to the October Sales Tax Report, revenues are up 19.3 percent.
“We were up 19.3 percent this month, compared to the prior October’s collection. That puts us up 13 percent over for the year, which equates to about $860,000 over the prior year’s collection,” Muninger said. “We’re sitting roughly 13-14 percent above budget anticipation, or about $902,000.”
Sales tax revenues have been consistently higher than anticipated for several months back to back. And while there is no way to say for certain why, most concur that government and tribal stimulus funds, along with more people shopping more locally, are to thank for the steady influx of funds. Muninger said cities across Oklahoma are seeing similar increases in sales tax revenues.