Residents across Oklahoma are welcoming a significant change as a new bill abolishes the state’s 4.5% grocery tax, offering relief to families struggling with rising prices at the supermarket. Ardmore shopper Lazette Gomez expressed her excitement over the tax cut, anticipating substantial savings on her grocery bills.
“I think it’s definitely going to help tremendously. Everything’s going up these days, so any kind of break I can have will be really nice,” Gomez said. With a family of six, she typically spends over $400 on groceries, meaning she stands to save around $18 per shopping trip, amounting to $936 annually.
For Gomez, these savings mean more financial flexibility to allocate resources elsewhere, such as paying bills and meeting other essential expenses. She believes that eliminating the grocery tax will offer much-needed relief to Oklahoma consumers grappling with the impact of inflation on grocery prices.
I think everybody could use a tax break anywhere,” Gomez remarked, reflecting broader sentiments among residents.
However, while the state grocery tax is being eliminated, municipal and county grocery sales taxes will remain intact, according to Ardmore city manager Kevin Boatright. He underscored the importance of sales tax revenue for municipalities, emphasizing its critical role in funding essential services like police and fire departments.
Boatright highlighted the significant contribution of sales tax to Ardmore’s general fund, which primarily supports crucial public safety initiatives. Despite the loss of revenue from the grocery tax, maintaining sales tax revenue remains essential for sustaining local government operations and providing vital services to communities.
With Governor Kevin Stitt’s approval, the bill is slated to take effect on August 1st, marking a significant milestone in Oklahoma’s tax policy landscape. While shoppers celebrate the prospect of reduced grocery expenses, local officials are mindful of the broader fiscal implications and the ongoing need for revenue to support essential services.
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As Oklahoma prepares for the implementation of the new tax legislation, stakeholders will closely monitor its impact on consumer spending patterns, local government budgets, and overall economic well-being in the state.