CITY: SALES TAX COLLECTION REMAINS ABOVE BUDGET

(May 9, 2024)

The City of Midland slightly trails the record pace for sales tax collected in a year, according to the Texas Comptroller.

The City reported Wednesday a collection of $5,898,833 in May -- a decrease of 7.71% from May 2023. The May collection brings the Fiscal Year 2024 balance to $44,492,897, a 2.25% decrease compared to this point last year. 

The City of Midland remains over budget – year to date -- by $1,253,324.

Sales tax revenue is generated by sales tax income from two months prior to collection; The May collection is based on March sales. The City of Midland collects a full cent of the 8.25% of sales tax inside the City of Midland.

Sales tax collection report

May 2024: $5,898,833 

May 2023: $6,391,671

Fiscal year to date 2024: $44,492,897

Fiscal year to date 2023: $45,518,812

Midland Development Corp.

May 2024: $1,474,708

Fiscal year to date 2024: $11,123,224

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