The City of Odessa’s May sales tax check, which reflects sales made in March, was up 14.08% compared to last year at this time.
According to a City of Odessa news release, the city received a check of $6,768,972.58. This amount includes the Economic Development sales tax of one quarter cent. The City of Odessa will receive $5,415,178.06 and the Odessa Development Corporation will receive $1,353,794.52. The year-to-date sales tax revenue for FY22-23 is up 34.42% or $9,815,051.81 as compared to the budgeted amount expected at this point in the fiscal year. In addition, the ’22-23 year-to date amount is above the previous fiscal year-to-date amount by $6,902.921.89 or 21.96%.
The city has budgeted $44 million in net sales tax revenues for this current fiscal year.
According to the City of Midland, they saw a 7.43% increase in March sales tax revenue. They reported $6,391,671 in sales tax revenue and the FY23 balance is now $45,518,812 or 23.97% higher than this point last year.
May sales tax revenue was $849,285 higher than the monthly budget, which brings the City YTD actuals over budget by $7,853,967.
Medical Center Hospital is scheduled to receive $5,330,277, up about $600,000 from the same time last year, in sales tax this month, which is down about from the same time period last year, said Trevor Tankersley, public relations director.
