City Sales Tax Growth Slows, Receipts Still Up From Last Year

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  • City Sales Tax Growth Slows, Receipts Still Up From Last Year
    City Sales Tax Growth Slows, Receipts Still Up From Last Year
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Despite a slowdown in the energy sector and the resulting impacts in other industries, Cordell’s retail economy continues to grow, albeit at a slower pace than in the previous year. Sales tax reports released by the Oklahoma Tax Commission show Cordell’s sales tax collection increased by nearly six percent between 2018 and 2019, slightly off the eight percent growth pace between 2017 and 2018.

In total, Cordell received $778,983.13 in sales tax dollars for calendar year 2019, up $41,067.44 from calendar year 2018. The 2018 total of $737,915.69 was up $54,863.57 from the 2017 total of $683,052.12.

According to the reports, Cordell’s sales tax receipts were higher in almost every month of 2019 than in 2018. Only in August and September were the 2019 receipts lower than in the previous year, but both months were still in excess of the 2017 totals.

November 2019 was the highest month during the past three years, with sales tax collections of $71,073.19.