According to the November sales tax report from the Oklahoma Tax Commission, sales tax collections were down 8 percent compared to the same period last year, while use tax revenue was up 2.5 percent, Chief Financial Officer/Treasurer/City Clerk Jason Muninger said recently.
“Sales tax revenue was $1,810,165, which is down about $166,000, or 8.4 percent, compared to the same collection period last year,” Muninger said. “We say this about every month, but the fact is the number is still high because we are comparing back to atypically-high post-Covid numbers. Even though revenues are down 8 percent this period over the same time last year, it’s still one of the largest November reports on record.”
Muninger said sales tax is up about $100,000, when compared to budgetary expectations for the year over last year.
Use tax, which is sales tax applied to online sales, was $397,768, or about 2.5 percent, up compared to the same period last year. Use tax is about $78,000 over the anticipated budget, or 2 percent for the year, Muninger said.
“So we are performing well despite the dip in sales tax this period,” he said. “And we are entering the time of year for holiday sales so we anticipate higher numbers for both sales tax and use tax over the next two-month period.”