Sales Tax Revenue For Edmond Increased In July

The City of Edmond received some big news with the start of this fiscal year as the sales tax income for the month of July is set to rise to a record breaking level. City Manager Larry Stevens noted that the total collection of tax for July had increased by an admirable 17.94 percent.

The sales tax collection of July is comprised of the sales in the last two weeks of May as well as the first two weeks of June. With the decline in the national economic measures and the negative job market, the City of Edmond was only projecting a sales increase of 3 percent. In addition, the city council expected a minimal increase for July given that December is typically the high revenue month because of the holidays. Nevertheless, the actual numbers provided a tremendous increase of nearly 18 percent.

This indicates that while most economic aspects in the country have lately experienced downfall, residents at Edmond continue to remain confident with their purchases – and the security of their every day lives. City Finance Director Ross VanderHamm noted that $5,023,586 total collection was received by the city for this month.

Apart from the City of Edmond, the entire state of Oklahoma is also having increases in their sales tax income given the continued purchases made by Oklahomans. Most cities have two-digit percentage growth with Oklahoma City earning a 12 percent increase in their sales tax income.

Chris George
Oklahoma City Realtor
405.843.8188