City’s sales tax revenue keeps soaring

The City of Odessa’s sales tax revenue in April showed another major increase amid growth in the local economy, totaling about 45 percent greater than the same period of 2017 and topping the monthly collection of Midland.

The city received more than $5.1 million in its monthly allocation from the Texas Comptroller of Public Accounts.

A fifth of the city’s sales tax revenue, or more than $1 million, goes to the city’s Odessa Development Corporation for economic development. More than $4.1 million will go to the city’s general spending fund.

The city’s fiscal year began Oct. 1 with more than $30.7 million in sales tax revenue budgeted for the general spending fund, but monthly collections have consistently exceeded estimates. To date, total sales tax revenues are more than $10.6 million, or about 60.4 percent greater, than what the city budgeted for this point in the fiscal year.

With months remaining in Odessa’s fiscal year, sales tax revenue flowing into city coffers outpaces fiscal year 2015, which Assistant City Manager Konrad Hildebrandt said was an all-time high.

In addition to the city, the Ector County Hospital District also saw another month of growth in sales tax revenue. The hospital district received more than $4.4 million, up about 41.4 percent from the same month of last year.

The City of Midland collected a sales tax check of more than $4.7 million, a more than 16.8 percent increase from April 2017.

Statewide, sales tax figures distributed by the comptroller’s office to cities, counties, transit systems and special purpose taxing districts increased 5 percent in April compared to the same month last year. The allocations are based on February sales.

A statewide sales tax holiday is also scheduled from April 28 to April 30 for certain emergency supplies ahead of the storm season. Items include batteries, fuel containers, flashlights, coolers, emergency ladders and generators.