The Moore American

October 17, 2012

Moore sales tax collections strong

By Joy Hampton
The Moore American

MOORE — Growth in the local business population over the course of last year has propelled Moore forward in sales tax revenues and the city continues on an upward trend.

Moore sales tax for October was $1.8 million, up 5.06 percent over October receipts last year. Moore is ahead 7.23 percent for the fiscal year.

Moore collected $21 million in FY 2012.

“We had 5.5 percent growth over the prior year,” Moore Finance Director Jim Corbett said of FY 2012 which ended June 30.

Moore had predicted 5 percent growth for last year and another 5 percent this year.

Dick’s Sporting Goods is under construction, expected to open soon. Other money makers for Moore have been the IMAX Theater and Target, but Corbett said several smaller business also contributed to the expanding tax base.

In addition, Corbett said several smaller businesses that recently opened will be contributing a full year of sales tax in FY2013.

In Norman, tax revenue is running behind budget predictions, despite that sales tax collections for FY 2013 are up from last year. Norman received $5.3 million on Oct. 9. Of that amount, $756,668 were directed to the Public Safety Sales Tax fund.

This year, Norman Finance Director Anthony Francisco and his team budgeted for a 4.2 percent increase.

Despite Francisco’s caution, tax collections have run below budget for the third month in a row. This year’s receipts were $31,683 or 3.17 percent above last years receipts.