Tax revenue on the rise in Oklahoma City

After a decline in sales tax revenue in 2010, Oklahoma City is back to making gains this year. The MAPS 3 sales tax receipts also are higher than expected.
BY MICHAEL KIMBALL mkimball@opubco.com Published: July 8, 2011
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The storm's role in the sales tax growth rate partly can explain the wide gap between other cities' revenue gains and Oklahoma City's. Tulsa's sales tax growth was just 2.5 percent last fiscal year, along with about 4.6 percent in Norman, 4.2 percent in Moore, 3.7 percent in Yukon, and 3.6 percent in Edmond and Midwest City, according to the state Tax Commission.

Another factor in Oklahoma City's growth is a jump in large-scale construction projects, notably the Devon tower downtown and other energy company investments, according to a city manager's report.

“The Devon tower, all the construction that's been going on with Chesapeake and SandRidge, those have been some really big projects that have boosted growth,” Freeman said.

Officials expect growth of about 4 percent in fiscal year 2012, Freeman said.

Four percent is what economists consider normal growth, he said.



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