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June Sales Tax Revenue Checks Bring More Increases

The June sale tax revenue checks are in and for both Midland and Odessa they’ve brought increases.
MIDLAND/ODESSA, TX (BIG 2 NEWS) – The June sale tax revenue checks are in and for both Midland and Odessa they’ve brought increases.


Here are the full details from the city of Odessa:

The City of Odessa received its June sales tax check in the amount of $3,548,355.23. This amount includes the Economic Development sales tax of ¼ cent. The City of Odessa will receive $2,838,684.18 and the Odessa Development Corporation will receive $709,671.05.

The City saw an increase in sales tax revenue with June's sales tax revenue total of $2,838,684.18, which reflects a $363.117.60 or 14.67% increase as compared to June 2013.

The year to date total sales tax revenue for fiscal year 2013-14 is up 23.64% or $4,974,578.72 as compared to budgeted amount expected at this point in the fiscal year.

In addition, the 2013-14 year to date amount is above the previous fiscal year to date amount by $2,509,827.77 or 10.67%.

The City has budgeted $28,786,638.00 in sales tax revenues in this fiscal year.

Sales tax revenue is generated by sales tax revenue from two months prior to collection,
i.e., June's collection is based on April sales.



Here are the full details from the city of Midland:

The City of Midland has collected this month's sales tax revenue from the State Comptroller's Office. The total amount of revenue received was $3,629,829.

This month's figure reflects a 16.36 percent increase, or a $510,462 increase, from June 2013.

The year-to-date total sales tax revenue for fiscal year 2013-2014 is up 12.15 percent, or a $3,474,522 increase, from last year's totals at this time. Fiscal year-to-date actual sales tax revenue is $32,064,281.

Sales tax revenue is generated by sales tax income from two months prior to collection; June collection is based on April sales.



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