Share “Oklahoma City's sales tax collections slow”

Oklahoma City's sales tax collections slow

Oklahoma City budget officials are keeping a close watch on effects of automatic, across-the-board federal spending cuts and expiration of a payroll tax cut.
by William Crum Modified: March 5, 2013 at 9:24 pm •  Published: March 5, 2013
Advertisement

Indecision in Washington over the federal budget has the attention of Oklahoma City's financial managers.

The Oklahoma City Council heard Tuesday that sales tax collections grew only 0.2 percent in late December and early January, the holiday period marked by uncertainty over whether federal income tax cuts would be extended for middle-class taxpayers.

Now the sequester — automatic, across-the-board federal spending cuts — and expiration of the payroll tax cut are raising concerns about consumer spending. The city depends on sales taxes, based to a large degree on retail sales, to fund its budget.

“There's certainly some concern going forward,” said Doug Dowler, city budget director.

The city received nearly $34.8 million for the December-January period, up $65,000 from the same period a year earlier. Since July, sales tax receipts are up 6.9 percent.

Since 2010, sales tax revenues have been growing steadily.

City Manager Jim Couch said the latest report appeared to represent a leveling off in growth.

Tulsa sales tax receipts were down 3 percent in the latest period, while Norman was down 0.2 percent, Edmond was up 3 percent, Midwest City was up 14.4 percent and Moore was up 10.7 percent.

Couch said in a report to the council it is likely that new Dick's Sporting Goods stores played a significant part in sales tax collection growth in Midwest City and Moore.

Continue reading this story on the...

by William Crum
Reporter
OU and Norman High School graduate, formerly worked as a reporter and editor for the Associated Press, the Star Tribune in Minneapolis, and the Norman Transcript. Married, two children, lives in Norman.
+ show more


AROUND THE WEB

  1. 1
    Tulsa man pleads guilty to murder for setting house fire that killed 5-year-old
  2. 2
    Police find hatchet, protective gear in house where Bever family members were slain
  3. 3
    Oklahoma City police: Two arrested after woman sexually assaulted in work freezer
  4. 4
    OU football fans among Top 10 ... in grammar
  5. 5
    Wrestling legend Jimmy 'Superfly' Snuka charged in girlfriend's 1983 death
+ show more

FEATURED JOBS



× Trending news Article