News

Print
Press Enter to show all options, press Tab go to next option

January Sales Tax Check

Post Date:01/06/2016
January Sales Tax Check

January 6, 2016 – The City of Odessa received its January sales tax check in the amount of $3,239,572.37. This amount includes the Economic Development sales tax of ¼ cent. The City of Odessa will receive $2,591,657.90 and the Odessa Development Corporation will receive $647,914.47.

The City saw a decrease in sales tax revenue with January’s sales tax revenue total of
$2,591,657.90 which reflects a $488,464.14 or 15.86% decrease as compared to January’s 2015.

The year-to-date total sales tax revenue for fiscal year 2015-16 is up 5.23% or
$554,905.01 as compared to budgeted amount expected at this point in the fiscal year.

In addition, the 2015-16 year-to-date amount is below the previous fiscal year-to-date amount by $1,741,352.62 or 13.49%.

The City has budgeted $33,214,406.00 in net sales tax revenues for this current fiscal year.

Sales tax revenue is generated by sales tax revenue from two months prior to collection, i.e., January’s collection is based on November sales.

For more information please call Konrad Hildebrandt, Assistant City Manager, 432-335-3232.
Return to full list >>