Ardmore's sales tax revenue remains strong
Sales tax revenue in the City of Ardmore continues to be strong despite the ongoing pandemic. Collections received in the months of July, August and September are up about 10.5% over 2019 according to Finance Director Sandy Doughty.
“I’m really kind of surprised,” Doughty said. “Back in July and August we had two of the biggest tax collections that we’ve had in years.”
Doughty said the city received over $2,150,000 in the month of July, an increase of over 19% from the month of June. In August the amount rose to approximately $2,164,000. Though the number dropped down to $2,044,000 for the month of September, Doughty said this number is closer to the numbers the city usually sees.
“Now we’re going back down to normal,” she said. “September was in the normal range, but that’s still not bad because collections are actually down for the state as a whole. But we actually did well here in Ardmore.”
The current city sales tax in Ardmore is 3.75%, and Doughty said the city receives the taxes two months after they are collected. In other words, the taxes collected in the month of May come into the city in July. Taxes collected in June arrive in August, and so on.
Doughty said she expects the October totals to be lower than September.
“Looking at what the state as a whole has collected so far, I think we’re going to be down in October,” she said. “But Ardmore did better than other parts of the state for the last few months, and we may do it again. I don’t know how the rest of the year is going to go, but right now we’re doing really well.”