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Sales tax revenue up sharply in Oklahoma City

Oklahoma City sales tax revenue is up 7.5 percent from December 2016, the eighth consecutive year-over-year monthly increase.

The city received $35.3 million from the Oklahoma Tax Commission, after accounting for interest and the Tax Commission processing fee.

Through the first six months of the fiscal year, sales tax revenue totals $109.4 million, up 4.6 percent from this time last year.

So far, the city is $2.7 million above the budget target, said D0ug Dowler, the budget director.

December sales tax revenue is based on retail sales the last two weeks of October and first two weeks of November, so it does not include Black Friday weekend shopping.

The December check included $9.1 million for MAPS 3.

MAPS 3 is on track to bring in $800 million in revenue by February, when the city receives the final accounting for the 1-cent sales tax approved by voters in December 2009.

The MAPS 3 sales tax expires Dec. 31 but the penny will continue to be collected.

Voters in September extended MAPS for 27 months for a crash program of street resurfacing and related improvements.

Sales tax revenue is an indicator of the metro area's economic trajectory.

Revenue faltered as oil-and-gas prices fell two years ago and, while close, still has not rebounded to the level reached in December 2014.

The city council cut day-to-day spending and reduced the city work force by about 2 percent in response to the slide in revenue.

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William Crum

OU and Norman High School graduate, formerly worked as a reporter and editor for the Associated Press, the Star Tribune in Minneapolis, and the Norman Transcript. Married, two children, lives in Norman. Read more ›