OKC tax revenues below goals but improving
2 September 2009
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Oklahoma City’s latest sales tax report was gloomy, but city officials see signs that the economy may be turning around.
August general fund sales tax collections, which reflect taxes paid by consumers in late June and the first half of July, were $14.3 million — or 8.5 percent — below target and 5.5 percent below collections a year ago.
Although the numbers are down, City Manager Jim Couch said there is an encouraging sign. Last month, sales tax was 9.7 percent below the previous year. The 5.5 percent decrease this month is an improvement, the first time the number has trended up since December.
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