Edmond sales tax collections continue to grow
Edmond continues to enjoy higher-than-expected sales tax collections. The last check from the Oklahoma Tax Commission was 18.98 percent increase when compared to last year.
EDMOND — City officials think materials for roof repairs from the hailstorm that hit Edmond over the summer may be contributing to the large sales tax revenue the city continues to experience.
Edmond showed for the last two weeks of July and first half of August an 18.98 percent increase compared to the same month a year ago.
The city has experienced a 20 percent growth for the first three months of this fiscal year compared to last year's sales tax collections. The city has collected nearly $15.4 million this fiscal year, almost $4.3 million more than projected.
City leaders had calculated a 3 percent growth in this year's fiscal budget.
“We think it is the reconstruction of new roofs,” City Manager Larry Stevens said. “We think the roof repairs will occur for the next couple of months. We are way above last year.”
City leaders attributed the revenue increase to one-time purchases related to construction, as well as sales of roofing materials and the opening of two new grocery stores.
In addition, the city has collected since April 1 more than $2.9 million for the construction of a new public safety center.
Shoppers in Edmond pay an 8.25 percent sales tax on purchases; 4.5 percent goes to the state and 3.75 percent is returned to the city.
Of the city portion, 2 percent goes to the general fund and a half percent goes to construct the public safety center. The remaining city sales tax money that does not go into the general fund is divided among firefighters, the police department and capital improvements as designated by voters.