The Oklahoma Tax Commission reports sales tax collections for retail activity that occurred in Ponca City during the approximate period of Dec. 16, 2016 through Jan. 15, 2017 declined 3.41 percent over the same period the previous year.
The total net sales tax collections were $1,153,831.
This is the seventh month of Fiscal 2016-17 and there has been six of those months with negative returns over the same period of last year, albeit smaller than those experienced in the prior fiscal year, according to Marc LaBossiere, City Financial Officer.
“We project the trend of contractions experienced over past two years to lessen for the remainder of the fiscal year, LaBossiere said.
The City budget for Fiscal 2016-17 assumed a two percent decrease over the prior year sales tax revenue, so a contraction was anticipated.