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Tulsa, other cities see July tax revenue jump: Federal stimulus checks cited for increase
(Tulsa World (OK) (KRT) Via Acquire Media NewsEdge) Jul. 19--Tax rebate checks helped Tulsa's July sales-tax revenues soar 10.7 percent over the same month last year.
"This is a great start to the fiscal year," Budget Director Pat Connelly said, noting that the city's budget is based on only 3.6 percent growth.
With the federal government issuing checks worth $1,200 for couples, $600 for individuals and $300 per child to help stimulate the economy, it was bound to have an impact, he said.
"People are out there spending money, and we're seeing the results," Connelly said.
"We don't see double-digit increases very often."
The city's check from the Oklahoma Tax Commission was for $18,510,640, compared with $16,720,350 for July 2007.
The money was collected during the period from May 16 to June 15.
The extra money "gives the city some breathing room," Connelly said.
It is already known that not enough was budgeted to cover the city's vehicle fuel costs because of the market volatility, he said.
Many communities in the Tulsa area also recorded hefty sales-tax growth.
Two standouts are Glenpool, which saw a whopping 222.3 percent
increase, and Coweta, which saw revenues jump 47.4 percent.
Both towns are benefitting from recent openings of Wal-Mart Supercenters and other commercial and residential development.
Glenpool's check from the Tax Commission was for $507,313, compared with $157,395 in July 2007.
"Wal-Mart can have quite an impact on a relatively small economy," Glenpool Assistant City Manager David Tillotson said.
"We've got a lot of other development planned for that area, so we expect the growth to continue."
Muskogee's 14 percent decrease in revenue is attributed to a three-fourths-cent drop in its sales-tax rate since last year.
Brian Barber 581-8322
brian.barber@tulsaworld.com
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Copyright (c) 2008, Tulsa World, Okla.
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