City of Bartlesville
Posted: Oct 16, 2013 9:19 AMUpdated: Oct 16, 2013 9:19 AM
Bartlesville's Sale Tax Receipts Disappointing
The City of Bartlesville received $1,388,912 in sales tax receipts from the State of Oklahoma in the month of October. The revenue is derived from the City's 3% sales tax for sales occurring at the point of sale mostly in the last half of August and estimated sales for the first half of September. The October dollars represent a 0.84% increase year over year when compared to sales tax revenues from October of last year. Speaking on a recent City Matters program on KWON, City Clerk and Finance Director Mike Bailey said for the fiscal year to date, the City's sales tax revenue decreased by 1.72% from the same 4 month period of last year. Bailey says some reports have indicated that this month's receipts represent a 3.04% increase. However, those reports failed to account for an additional tax payment received late in October of last year. The payment was the result of an error on the Tax Commission's part that was corrected later in the month.
Bailey says while this month's small increase represents some growth in sales tax, it is not on pace with budgeted expectations and does little to help overcome the deficits created by this year's first two slow months. Bartlesville's sales tax receipts will now need to grow at 2.5% every month for the rest of this fiscal year to reach the amounts projected in this year's budget.
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