Odessa sales tax revenue down a half-million

The City of Odessa recently received its May sales tax check, in the amount of, $4,930,789.27. This amount includes the Economic Development sales tax of quarter-cent. The City of Odessa will receive $3,944,631.42 and the Odessa Development Corporation will receive $986,157.85.

The City saw a decrease in sales tax revenue with May’s sales tax revenue total of $3,944,631.42 which reflects a decrease of $664,225.93, or 14.41 percent compared to May 2020.

The Ector County Hospital District received $3,668,808, a decrease of $368,991 during the same period last year.

Year-to-date total sales tax revenue for fiscal year 2020-21 is up 13.93 percent, or $3,252,285.19 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 $8,730,198.10 or 24.71 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., May’s collection is based on March sales.