August 8, 2007
AUGUST SALES TAX REVENUES
The City of Midland has collected this month's revenue from the State Comptroller's Office. The total amount of revenue received was $2,116,793.
This month's figure reflects a 14.06% increase or a $260,938 increase from August 2006.
The year-to-date total sales tax revenue for fiscal year 2006-2007 is up 15.47% or a $2,705,079 increase from last year's totals at this time. Fiscal year-to-date actual sales tax revenue is $20,191,179.
Sales tax revenue is generated by sales tax income from two months prior to collection; August collection is based on June sales.
This is the 47th consecutive month of increased sales tax revenues when compared to the same month the prior year.
FILL THE BOOT
Midland Firefighters will hit the streets in an effort to help the Muscular Dystrophy Association. The Fill the Boot campaign will take place Thursday, Friday, and Saturday, August 9-11, 2007, from 9:00 a.m. – 6:00 p.m.
Firefighters will collect donations at four different busy intersections. Look for them at Midland Drive and Loop 250, Midkiff and Wadley, Midland Drive and Andrews Highway, and Rankin Highway and I-20 outside the new Walmart.
The money raised by these local heroes benefits the Midland Chapter of the Muscular Dystrophy Association. The funds raised remain in Midland to provide essential program services for those served by MDA.
In 2006, the department raised a record breaking $77,556 for MDA. This year’s goal is $85,000.
CITY PARTICIPATES IN SALES TAX HOLIDAY
The City of Midland will join many other cities throughout the state of Texas for the ninth annual sales tax holiday. On August 17, 18, & 19, families will be able to do most of their back-to-school shopping without paying sales tax.
Like last year’s holiday, this year’s applies to most clothing and footwear products priced $99.99 and less. Also, backpacks have been added to this year’s list of exempt items. This year it is expected to save Texans more than $52.1 million in state and local sales taxes. This year, sales tax revenue loss due to the holiday is estimated at $45,037 for the City of Midland.
Texas Comptroller Susan Combs announced that, starting in May 2008, energy-efficient appliances will be exempt from sales tax during the three day Memorial Day weekend. Certain appliances with a federal Energy Star rating will be tax-free, including washing machines, dishwashers, ceiling fans, dehumidifiers, programmable thermostats, and incandescent fluorescent light bulbs. Air conditioners priced at $6,000 or less and refrigerators priced at $2,000 or less can also be purchased tax free.
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