The City of Odessa received it March sales tax check, in the amount of $4,145,624.08 this week that includes the economic sales tax of 1/4 cent . The City will receive $3,316,499.26 and the Odessa Development Corporation will receive $829,124.82.
The City saw an increase in sales tax revenue with March’s sales tax revenue total, which reflects a $537,849.68 or 19.36 percent increase as compared to March 2021.
The year-to-date total sales tax revenue for fiscal year 2021-22 is up 30.02 percent or $5,330,761.69 as compared to the budgeted amount expected at this point of the fiscal year.
The year to date total sales tax revenue is above the previous fiscal year-to-date amount by $3,120,463.74 or 15.63 percent.
Sales tax revenue is generated by sales tax revenue from two months prior to collection. March’s collection is based on January sales.
Medical Center Hospital will receive $4,537,253, an increase of about $1.8 million from this time last year.
