Renewal of the 1 Cent General Fund & 2017 Capital Improvement Sales Tax | August 25, 2025 скачать в хорошем качестве

Renewal of the 1 Cent General Fund & 2017 Capital Improvement Sales Tax | August 25, 2025

The current sales tax rate in Edmond is 8.25%. Of that, 4.5% goes to the State of Oklahoma and the City of Edmond receives the other 3.75%. Those dollars are used to fund the general fund, public safety, parks, and capital improvements. The breakdown of the 3.75% is: One cent goes to the general fund for city operations (Permanent) One cent goes to the general fund for city operations (10-year sunset provision) 1/4 cent goes to public safety/fire (Permanent) 1/8 cent goes to public safety/police (Permanent) 1/8 cent goes to parks (Permanent) 3/4 cent goes to capital improvement projects (Permanent) 1/2 cent goes to capital improvement projects (10-year sunset provision) The two taxes mentioned above with a 10-year sunset provision, have expiration dates upcoming in late March 2027. If there is a desire to continue receiving funds from these taxes without lapsing, they would need to be approved by Edmond residents in a city-wide ballot measure before the end of 2026. The one-cent general fund sales tax provides a significant portion of operating dollars for most city departments, including police and fire. It was first approved by voters in April 1977, and was renewed in June 1986, August 1996, July 2006, and April 2016. In fiscal year 2024-25, this tax provided nearly $24 million in revenue for city operations. It expires on March 20, 2027. Oklahoma statutes restrict cities from utilizing property tax for operating expenses, so sales tax is the main source of funding available. The 1/2-cent capital improvement project sales tax provides a significant portion of dollars for road projects and maintenance, city facility construction, and park facility enhancements. It was first approved by voters in October 2011 for a five-year term to fund the construction of the Public Safety Center. It was repurposed and renewed by voters in April 2016 to provide additional funding for capital projects in the community. In fiscal year 2024-25, this tax provided nearly $12 million in revenue for capital projects. It expires on March 31, 2027. Oklahoma statutes allow cities to use property tax for capital projects through bond initiatives, but that method is currently not utilized in Edmond. How does the total sales tax rate in Edmond currently compare to other OKC area cities? 8.25% - Edmond 8.375% - Moore 8.500% - Bethany 8.500% - Mustang 8.500% - Nichols Hills 8.500% - Warr Acres 8.625% - Oklahoma City 8.75% - Choctaw 8.75% - Norman 8.85% - Yukon 9.00% - Del City 9.00% - Guthrie 9.00% - The Village 9.10% - Midwest City 9.85% - Piedmont The City's bond counsel (Allan Brooks and Nate Ellis, The Public Finance Law Group) as well as the City's financial advisor (Chris Gander, Bank of Oklahoma) will be in attendance to provide insight related to the renewal and/or non-renewal of both expiring sales tax ordinances. Recent legislation (SB 652) will impact available election dates for municipalities during calendar year 2026. The cost of the election is anticipated to be approximately $69,772.00, unless the City holds its election on the same date the State and/or another political subdivision holds an election. In that event, the cost will be shared among all jurisdictions holding an election on the given date. This item has been reviewed by the City Attorney’s Office as to form and legality. Time Frame: At Council’s direction regarding the date and rate at which they wish to proceed with calling an election, City staff will prepare the necessary materials and present them at a future regularly scheduled Council meeting. Please see attached chart indicating the statutory dates and deadlines related to elections for calendar years 2025 and 2026. City of Edmond: http://www.edmondok.gov For our Social Media Usage Policy, please visit http://www.edmondok.gov/socialmedia #CityofEdmond