Sales Tax Revenues Are Lower Than Expected, Why?
You may be spending less money because of the new payroll tax that started in January. That is one issue to blame for issues concerning the Tulsa city budget. It all boils down to your money and how you are spending it.Citizens of Tulsa are not excited about the fact they could end up spending about five more dollars on water and sewage, with a proposed new budget for next year.The mayor says it's all about low sales tax revenues.But you may wonder why? Why is sales tax low when we saw the Bassmaster Classic in February which was expected to bring in the fish, along with millions of dollars. That month sales tax revenues were down 2.5 percent over last year.Those kind of revelations forced the financial director to make projections that could mean no pay raises for city workers. It could also mean increased water bills for you. It's not just Tulsa but other cities and even the state seeing a downturn. Don't worry. Experts say it won't last and this is nothing like the recession we saw in 2009."This is closer to a pause or leveling off that will have a short to medium impact before resuming higher levels of growth," said Mike Kier, Fiance Director for the City of Tulsa.City councilors will discuss present their ideas on the mayors budget. They could present their ideas as early as June 13th.WE JUST CONCLUDED THE MONTH OF APRIL. BUT THOSE NUMBERS WON'T BE IN. UNTIL THE MIDDLE OF MAY.