The City of Odessa recently received it’s July sales tax check in the amount of $4,194,343.80. This amount includes the Economic Development sales tax of ¼ cent. The City of Odessa will receive $3,355,475.04 and the Odessa Development Corporation will receive $838,868.76.
The city saw an increase in sales tax revenue with July’s sales tax revenue total of $3,355,475.04, which reflects a $328,552.76, or 10.85 percent as compared to July 2020.
The Ector County Hospital District received $3,406,244 for July, a news release from Medical Center Health System detailed.
Year-to-date total sales tax revenue for fiscal year 2020-21 is up 13.52 percent, or $3,982,794.75 as compared to budgeted amount expected at this point in the fiscal year.
In addition, the 2020-21 year-to-date amount is below the previous fiscal year-to-date amount by $8,168,430.69 or 19.63 percent.
The city has budgeted $36,000,000 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., July’s collection is based on May sales.