Despite an overall decline in the city’s reported retail sales, the City of New Cordell received a gross increase in sales tax deposits for the month of January 2020.
According to data from the Oklahoma State Tax Commission, a total of $64,193.93 was received by Cordell on Feb. 10, 2020, for sales tax collected during the month of January. That figure is up nearly $5,000 from January 2019 and up almost $8,000 from the same months in 2018 and 2017.
The January 2020 figure represents $1,604,848.25 in reported taxable sales within the city, based upon the new four percent sales tax which went into effect Jan. 1, 2020. The new sales tax was overwhelmingly approved by Cordell voters late last year as an effort to provide financial support to the struggling Cordell Memorial Hospital. The hospital will receive roughly $16,048 from the tax deposit.
The numbers from January 2017, January 2018, and January 2019 are based upon the previous three percent sales tax. Using that figure, Cordell’s reported taxable sales for those months, taxable sales within the city were $1,997,886.33 in 2019, $1,875,295 in 2018, and $1,869,166 in 2017. By comparison, Hobart received $141,579.47 in sales tax for the month of January 2020, reversing a slight downward trend from 2017 through 2019.
Hobart’s four percent tax, which has been in effect for each of the past four years, has resulted in deposits of $99,589.99 in January 2019, $100,711.31 in January 2018, and $105,607.64 in January 2017.