The City of Odessa’s March sales tax check, which reflects sales made in January, was up 49.88% compared to last year at this time.
According to a City of Odessa news release, the city received a check of $6,213,368.55. This amount includes the Economic Development sales tax of one quarter cent. The City of Odessa will receive $4,970,694.84 and the Odessa Development Corporation will receive $1,242,673.71.
The year-to-date sales tax revenue for FY22-23 is up 37.15% or $7,781,337.96 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 $5,642,086.47 or 24.44%.
The city has budgeted $44 million in net sales tax revenues for this current fiscal year.
Medical Center Hospital is scheduled to receive $3,947,646 in sales tax this month, which is down about $600,000 from the same time period last year, said Trevor Tankersley, public relations director.
According to the City of Midland, they saw a 36.73% increase in January sales tax revenue. They reported $5,378,450 in sales tax revenue and the FY23 balance is now $34,059,617 or 27.52% higher than this point last year.
March sales tax revenue was $1,111,109 higher than the monthly budget, which brings the City YTD actuals over budget by $6,006,726.
