Added together, the sales and use taxes for the month sent back to the City of Newcastle coffers from the Oklahoma Tax Commission was in excess of $1 million.
That’s a big deal and represents the second time Newcastle has had more than $1 million returned.
Maybe even a bigger deal is that the July OTC report shows the largest amount of sales tax ever returned to the City.
Newcastle Mayor Karl Nail said the City has been emphasizing the need for retail sales and services. He said they’ve been trying to attract sales tax generators and the Council and staff are doing everything they can to increase that activity.
“Cities and towns in Oklahoma don’t get any ad valorem tax, so we are solely dependent on sales and use tax,” Nail said. “Police, fire, streets — all those things are financed with sales tax dollars. It’s very important that the citizens know how important it is to shop at home and spend their money at home.”
Nail said taxes are the lifeblood of a community and are very important. He added that these dollars provide for the services the citizens need and for parks — such as the splash pad and trails.
Nail said, “Over the next few years, we expect to have quite a few new sales tax generators come to town. There will be even more reason for residents to spend their money on the south side of the river.”
Newcastle cracked the million dollar mark for sales and use taxes returned to City coffers, according to the July report of the Oklahoma Tax Commission.
Purcell rebounded from a decrease in last month’s report to top last year’s July figures by a little over $24,000. Lindsay was up over $55,000 while Washington, Wayne and Goldsby were also up over last year.
Riding their new rate, Blanchard saw an increase of more than $100,000 over their July 2023 returns.
