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May Sales Tax Check

Post Date:05/07/2020 10:46 AM

NEWS FOR IMMEDIATE RELEASE
Wednesday, May 06, 2020

The City of Odessa received its May sales tax check, in the amount of, $5,761,071.69. This
amount includes the Economic Development sales tax of ¼ cent. The City of Odessa will
receive $4,608,857.35 and the Odessa Development Corporation will receive
$1,152,214.34.

The City saw a decrease in sales tax revenue with May’s sales tax revenue total of
$4,608,857.35, which reflects a $(539,104.27), or (10.47)% as compared to May 2019.

The year-to-date total sales tax revenue for fiscal year 2019-20 is up 33.18%, or
$8,800,540.63 as compared to budgeted amount expected at this point in the fiscal year.
In addition, the 2019-20 year-to-date amount is below the previous fiscal year-to-date
amount by $(4,100,116.83) or (10.40)%.

The City has budgeted $41,100,000.00 in net sales tax revenues for this current fiscal year.
Sales tax revenue is generated by sales tax revenue from two months prior to collection,
i.e., May’s collection is based on March sales.

Media Contact: Devin Sanchez, Director of Communications, ddsanchez@odessa-tx.gov

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