Oxford sees sales tax revenue increase 19 percent in August
With businesses opening back up and students returning for the fall semester, the City of Oxford saw an increase in sales tax collection for the month of August.
The city had a 19-percent jump in sales tax revenue in August from July, collecting $895,581.93 compared to the $752,138.30 collected in July.
Oxford saw a year-to-year jump in sales tax collection in August, taking in six percent more this year than the city did in 2019. The city collected $848,488.70 in August of last year.
Most of the business, restaurants and bars were opened back up toward the end of July and capacities allowed inside each establishment gradually increased throughout August due to Governor Tate Reeves’ executive order. However, Oxford kept their limited capacities smaller than the statewide order required to help slow the spread of COVID-19.
“We were, of course, relieved and thrilled to see that our sales tax for the month of August went up 19 percent from last month and six percent from last year,” Oxford Mayor Robyn Tannehill said. “I am not surprised to see that we were up from last month, as I assumed we would be, but I was a bit surprised to see we were up from last August. I think our citizens are excited to be out and about and we are glad they are dining out and shopping our local businesses.”
Oxford’s stadium tax, also known as the food and beverage tax, took in over $41,000 more in August than in July with $278,295. The city’s tourism tax collection increased by more than $15,200 from August to July, taking in $34,015.