The City of Odessa recently received its October sales tax check, in the amount of, $4,359,251.21. This amount includes the Economic Development sales tax of ¼ cent. The City of Odessa will receive $3,487,400.97 and the Odessa Development Corporation will receive $871,850.24.
The city saw an increase in sales tax revenue with October’s sales tax revenue total of $3,487,400.97 which reflects a $378,564.04, or 12.18 percent increase as compared to October 2020. The Ector County Hospital District received $3,421,981.
The 2020-21 year-to-date amount is up 25.49 percent, or $708,415.42 as compared to budgeted amount expected at this point in the fiscal year.
The city has budgeted $37,500,000.00 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., October’s collection is based on August sales.
