Tulsa Revenue Down Again
Tulsa, OK – The November Oklahoma Tax Commission report to the City of Tulsa shows Tulsa's major revenue sources for general fund operations are still in steep decline. The report, representing sales tax and use tax collected from mid- October to mid-November, was received Tuesday.
City of Tulsa sales tax collections dropped $2,681,917 million from $18,476,382 million to $15,794,465 million, representing a 14.5 percent drop below the previous year. The collections are 4.9 percent below budget estimate for the month.
Use taxes, which businesses and others pay on purchases of equipment from out-of-state vendors, totaled $1,166,220 for the reporting period, which is a 23.8 percent decline from $1,530,711, for the same period a year ago. Collections are 15.2 percent below the budget estimate.
The City of Tulsa has reported nine consecutive months of sales tax collection declines, a trend that is unprecedented in the city's history.
Mayor Dewey Bartlett, who was informed of the report on his first day in office, said he and his management team will review the general fund revenues with the Finance Department this week to begin developing a plan of action.