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Sales Tax News - January 31, 2018

Posted by Brian Greer on Wed, Jan 31, 2018 @ 08:28 AM

Midland Sees Seventh Straight Month of Positive Sales Tax Collections

The city of Midland, Texas just reported their sixth-straight sales tax collection increase of 20 percent or more.  Collections from last month were just short of reaching a 30 percent increase from this same time last year for the Texas city.  The fiscal year-to-date sales tax revenue is $15,014,665 and is up 33.62 percent from totals at this time last year.  The only year that the city of Midland collected more money through the first four months was in 2015. 

Fairview City Residents Not Eligible for Sales Tax Vote

Williamson County, Tennessee residents prepare to vote on a proposed sales tax increase, but Fairview residents are not eligible to participate in the vote.  The city passed a referendum in 2004 and raised the sales tax to the maximum allowed there, which means they have no say in the upcoming proposal.  The sales tax in Williamson County is currently 9.25 percent, but it is 9.75 percent in Fairview.  If the new proposed sales tax passes in February, the sales tax rate will be 9.75 percent across the board in Williamson County.  The proposed sales tax increase will go towards funding school capital projects.  Residents will vote on the sales tax increase on February 6th.

Oklahoma City Continues to See Positive Sales Tax Collections

Sales Tax revenue for Oklahoma City in January is up 7.8 percent from this time last year, and the budget's target rate was only 3 percent.  The increase in collections from the sales tax is currently on a nine-month positive streak.  General fund receipts are now $3.6 million ahead of projections.  Sales tax accounts for 53 percent of the general fund budget and is the city's single largest source of money.  January's sales tax check was the third largest ever collected by the city.  February 2015 was the largest and February 2016 was the second largest ever collected.

Topics: texas sales tax, sales tax news, Oklahoma sales tax, Tennessee sales tax