Fiscal Year 2024:
This budget will raise more revenue from property taxes than last year’s budget by an amount of $5,342,066 which is a 8.08 percent increase from last year’s budget. The property tax revenue to be raised from new property added to the tax roll this year is $934,900.
The members of the governing body voted on the budget as follows:
FOR: Stretcher Burkes, Blong, Dufford, Ladd, Norman
AGAINST: Corrales, Poole
Property Tax Rate Comparison:
Tax rate | FY 2022-2023 | FY 2023-2024 |
Adopted Tax Rate | .355039 | .350662 |
No-New-Revenue Rate | .355039 | .328693 |
| Voter-Approval Tax Rate | .361731 | .353162 |
| Voter-Approval w/Increments | N/C | .380408 |
Interest & Sinking (Debt Service) | 0.050195 | .060852 |
Financial Summary
Total debt obligation for City of Midland secured by property taxes: $12,413,902