Odessa city tax revenue up 7.16 percent

The City of Odessa recently received its June sales tax check, in the amount of, $4,365,003.38. This amount includes the Economic Development sales tax of ¼ cent.

The City of Odessa will receive $3,492,002.70 and the Odessa Development Corporation will receive $873,000.68.

The city saw an increase in sales tax revenue with June’s sales tax revenue total of $3,492,002.70 which reflects a $233,214.65, or 7.16 percent as compared to June 2020.

The Ector County Hospital District will receive $3,276,521.

Year-to-date total sales tax revenue for fiscal year 2020-21 is up 14.14 percent, or $3,728,286.55 as compared to budgeted amount expected at this point in the fiscal year.

The 2020-21 year-to-date amount is below the previous fiscal year-to-date amount by $8,496,983.45 or 22.02 percent.

The city has budgeted $36,000,000.00 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., June’s collection is based on April sales.