June 22, 2021

Surge in city sales tax revenue continues

first_img Facebook Ector Restaurant Report Logo.jpg Sales tax revenue collected by the City of Odessa now tops 63 percent greater than what budget writers expected at this point in the fiscal year, with monthly payments that continue to surge and have topped collections of Midland for two consecutive months.The latest sales tax payment from the state on Wednesday of more than $6.5 million showed another major increase, totaling more than 51 percent greater in May than the same period of 2017.A fifth of the city’s sales tax revenue, or more than $1.3 million, goes to the city’s Odessa Development Corporation for economic development. More than $5.2 million will go to the city’s general spending fund.The city’s fiscal year began Oct. 1 with more than $30.7 million in sales tax revenue budgeted for the general spending fund, but monthly collections have consistently exceeded estimates. The windfall for the City of Odessa so far outpaces 2015, which was an all-time high.The greater-than expected sales tax revenue allows city officials to shore up reserves and consider new projects.The City of Midland collected a sales tax check of more than $6 million, a more than 22 percent increase from May 2017.The Ector County Hospital District also saw another month of growth in sales tax revenue. The hospital district received more than $4.8 million, up more than 54 percent from the same month of last year.Statewide, sales tax figures distributed by the comptroller’s office to cities, counties, transit systems and special purpose taxing districts increased by more than 9 percent in May compared to the same month last year. The allocations are based on March sales.CHECKS ISSUED IN MAY COMPARED TO THE SAME MONTH OF 2017Alpine: $166,286.89, up 3.06 percentAndrews: $698,976.38, up 37.8 percentBig Lake: $273,543.66, up 54.18 percentBig Spring: $1,032,452.99, up 24.19 percentCrane: $63,353.49, up 15.64 percentFort Stockton: $316,086.06, up 8.44 percentGoldsmith: $7,023.41, down 36.31 percentGrandfalls: $4,628.88, down 24.56 percentKermit: $276,228.75, up 161.37 percentLamesa: $178,192.86, up 17.43 percentMarfa: $50,707.26, up 8.13 percentMcCamey: $64,321.52, up 37.87 percentMidland: $6,030,437.48, up 22.28 percentMonahans: $416,463.72, up 22.94 percentOdessa: $6,599,447.47, up 51.36 percentPecos: $946,397.54, up 54.64 percentPresidio: $37,926.66, up 4.15 percentPyote: $13,783.63, up 341.93 percentRankin: $16,974.03, up 17.93 percentStanton: $85,461.94, up 16.45 percentToyah: $3,993.88, up 30.2 percentWickett: $22,027.17, up 709.32 percentWink: $58,202.39, up 284.99 percentMore Information Local NewsGovernment Pinterest Twitter By admin – May 9, 2018 Here is a link to the monthly sales tax allocations by the Texas Comptroller of Public Accounts WhatsAppcenter_img Twitter Facebook Pinterest Surge in city sales tax revenue continues WhatsApp Previous articleTeenager charged with choking, punching girlfriendNext articleCOLLEGE BASEBALL: Falcons open LSC tourney against Javelinas adminlast_img

Leave a Reply

Your email address will not be published. Required fields are marked *