City of Odessa release November Sales Tax Check

Sales Tax Revenue continues to climb. November’s revenue is 23% more than this time last year.

City of Odessa release November Sales Tax Check

ODESSA, TX (KWES) - The City of Odessa received its November sales tax check, in the amount of, $6,252,397.54. This amount includes the Economic Development sales tax of ¼ cent.

The City of Odessa will receive $5,001,918.03 and the Odessa Development Corporation will receive $1,250,479.51.

The City saw an increase in sales tax revenue with November’s sales tax revenue total of $5,001,918.03, which reflects a $957,755.94, or 23.68% increase as compared to November 2017.

The year-to-date total sales tax revenue for the fiscal year 2018-19 is up 77.55%, or $4,272,885.13 as compared to the budgeted amount expected at this point in the fiscal year.

In addition, the 2018-19 year-to-date amount is above the previous fiscal year-to-date amount by $2,027,869.98 or 26.15%.

The City has budgeted $37,208,410.00 in net sales tax revenues for this current fiscal year.

Sales tax revenue is generated by sales tax revenue from two months prior to collection, i.e., November’s collection is based on September sales.

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