MOORE — Revenue from sales tax continues to be on a strong upward trend and city officials couldn’t be happier. Moore received $2,729,427 in sales tax receipts from the Oklahoma Tax Commission on Feb. 8. That includes an extra quarter-percent of tax for the parks project; that quarter-penny started on April 13.
Last year, Moore’s receipts were $2,404,324 in sales tax for February, but even without the extra quarter-penny per dollar spent, sales tax revenue is on the increase.
“The general fund portion of the sales tax was up 5.97 percent,” Moore Finance Director Jim Corbett said. “Year-to-date, we are up 9.5 percent.”
That’s amazing, considering the hit Moore took immediately following the tornado because of destroyed or damaged businesses and limited access in some areas of the city.
Sales tax receipts represent collections from one to two months prior, meaning Moore’s tax receipts were down on July 9, 2013. By the next month, those numbers had rebounded.
“Every month since then has been a sizable increase,” Corbett said.
Moore’s use tax receipts for February were $89,986, a drop from receipts of $104,814 last year. However, large receipts last February were abnormal.
“That was the largest single month for last fiscal year for use tax,” Corbett said.
He said this month’s use tax receipts are strong, relative to most months.
Cleveland County sales tax is also following a strong, upward trend. The county received $712,452 this February compared to $652,719 in 2013, an increase of more than 9 percent. Like Moore, however, use tax receipts for this February of $33,419 are below last year’s use tax collections of $36,528.
The Oklahoma Tax Commission deposited $5.7 million in sales tax in Norman’s account this month. Of those funds, $815,010 were Public Safety Sales Tax.
Use tax collections are up for January. The use tax deposit this month was $211,599 for the city and $35,267 for PSST funds, for a total of $249,156 compared to $225,332 last year — a 10.6 percent increase.