Stillwater News Press

Local News

April 26, 2012

Stillwater's sales tax receipts rise; Cushing's receipts soar, bringing up county average

STILLWATER, Okla. — Sales tax collections are showing a positive trend for much of Payne County, according to the latest report from the Oklahoma Tax Commission.

The Oklahoma Tax Commission’s report from April measures retail sales between Feb. 16 and March 15. During that time, Stillwater saw a 5.6 percent increase over the same period in 2011.

Sales tax is one of the main measurements used to judge local economies, but it is also a key revenue source for local city governments. Through 10 months of the 2011-12 fiscal year, Stillwater has brought in approximately $19.78 million, compared to $19.23 million in 2010-11. That amounts to an approximate 2.8 percent increase.

City Manager Dan Galloway recently projected a roughly 2 percent increase in revenue for the city in 2012-13, which is the first budget projection to include an increase in a few years as budgets during the recession were typically flat.

Stillwater’s tax growth in April was encouraging, but another Payne County community saw a much larger increase. Payne County as a whole saw just under 11 percent growth compared to the same period last year, which was driven at least in part by Cushing’s 21 percent gain over 2011.

Spurred by pipeline and tank farm expansion, Cushing’s large increase in April has not been out of the ordinary for the oil hub.

Cushing lost for three straight months of the 2011-12 fiscal year compared to the same period of one year earlier, but massive gains in the remaining seven months have meant Cushing has collected $4.49 million in the first 10 months of the fiscal year. That is an 11.7 percent increase over $4.02 million collected through the same period one fiscal year ago.

1
Text Only | Photo Reprints
Local News