October 1, 2007

CITY ENTERS NEW FISCAL YEAR
October 1, 2007, marks the beginning of a new fiscal year for the City of Midland.  Although forecasters don’t have a crystal ball, optimism remains high at City Hall for a positive year.

The FY07/08 Budget presented many challenges in preparing.  The $151 million total budget reflects a 6.43% increase from the FY2006-07 Budget. 

The property tax rate will decrease 4.84 cents to 53.86/$100 valuation.  The City’s property tax rate is at its lowest since 1989.

The Budget includes market adjustments to employee salaries, technology enhancements, and facility & equipment repairs. 

The City’s FY07/08 Budget is available online at www.midlandtexas.gov

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