Oklahoma City sales tax collections down six percent, below monthly projection
OKLAHOMA CITY – City leaders say the sales tax report in Oklahoma City has dropped from last year’s numbers and below the monthly projection.
The August sales tax report shows the General Fund collections in Oklahoma City were down six percent compared to the same month last year.
It also fell below the monthly projection by 5.6 percent.
August is only the second month of the fiscal year, and General Fund sales tax revenue is about $1.2 million below the year-to-date projection.
Despite those drops, officials say Oklahoma City residents are very satisfied with where they live.
About four out of five Oklahoma City residents rated their community as an “excellent” or “good” place to live, according to the City of Oklahoma City Citizen Survey.
However, some metrics did drop from last year.
“We understand where our residents are coming from, because things haven’t been easy recently in Oklahoma City. Our sales tax revenue has declined while some of our key employers have struggled,” said City Manager Jim Couch. “But we’re optimistic, because our residents are still happy living here even in a relatively tough year. And we’re always investing in the areas where they want us to improve.”