The Moore American

Local News

January 16, 2013

Sales tax tops last year’s numbers

MOORE — Moore’s tax collections were $2,267,072 this month, up about 3 percent from last year. The Use tax deposit is $78,392.

While that increase is slightly below budget predictions of 4 percent growth for the fiscal year, strong numbers coming into Moore’s city coffers since the fiscal year started on July 1 mean the city is trending strongly above budget predictions and well ahead of last year’s sales tax collections.

State Treasurer Ken Miller reported earlier this month that 2012 gross revenue for the state totaled $11.087 billion — 3.8 percent higher than collections in 2011. Of those revenues, Miller said sales taxes generated $4.175 billion, an increase of 8.7 percent from the prior 12-months.

Oil and gas gross production tax collections brought in $728.04 million during 2012, down 29.8 percent from the previous period, while motor vehicle collections of $701.89 million for the period showed an increase of 5.9 percent over 201, he said.

Gross income taxes generated $3.96 billion for the year, reflecting an increase of $250.81 million or 6.8 percent from the prior calendar year. Personal income tax collections total $3.371 billion, up by $177.6 million or 5.6 percent from 2011. Corporate collections are $588.98 million for the period, an increase of $73.21 million or 14.2 percent over the previous year.

Other sources generated $1.522 billion, up $89.95 million or 6.3 percent from the previous calendar year, according to Miller’s report.

Other area tax collections include Hall Park $3,049; Lexington $31,363; Noble $111,278 and Slaughterville $12,436, according to Oklahoma Tax Commission deposit letter records.

Norman’s tax receipts were down 8.5 percent this month from collections for the same month last year.

The city received $4,773,046 in total sales tax, but $681,863 of that money is diverted into the Public Safety Sales Tax fund.

The PSST money was a voter approved increase in sales tax collections in order to increase fire and police protection in Norman.

Norman’s use tax collections were $162,850 with $23,055 of that going to the PSST fund.

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