June sales tax comes in large
Jun. 20—The City of Odessa's June sales tax check, which reflects sales made in April, was up 8.91% compared to last year at this time.
According to a City of Odessa news release, the city received a check of $5,472,322.98. This amount includes the Economic Development sales tax of one quarter cent. The City of Odessa will receive $4,377.858.38 and the Odessa Development Corporation will receive $1,094,464.60.
The year-to-date sales tax revenue for FY22-23 is up 32.79% or $10,545,571.76 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 $7,260,950.05 or 20.48%.
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 8.83% increase in April sales tax revenue. They reported $5,303,374 in sales tax revenue and the FY23 balance is now $50,822,186 or 22.19% higher than this point last year.
June sales tax revenue was $853,641 higher than the monthly budget, which brings the City YTD actuals over budget by $8,707,607.
According to Medical Center Hospital, they received $4,499,917 this month, about a $281,000 increase from the same time last year.
