CITY OF MIDLAND REMAINS AHEAD OF SALES TAX FORECAST

(April 10, 2024)

 MIDLAND, TEXAS -- The City of Midland’s sales tax collection remains more than $1.64 million above the budgeted forecast year-to-date in fiscal year 2024.

The Texas Comptroller shows $4.907 million was collected this month, which moves the FY 2024 year-to-date total to $38.594 million. That total through seven months of the fiscal year is $1,649,687 ahead of what was budgeted.

The collection in April and during the fiscal year did fall short of the record numbers from and through April 2023.

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

Sales tax report

City of Midland

April 2024: $4,907,493

April 2023: $5,067,524

Percentage change: -3.16%

FY 2024 to-date: $38,594,064       

FY 2023 to-date: $39,127,141

Percentage change: -1.36%

April reports

April 2024: $4,907,493

April 2023: $5,067,524

April 2022: $4,064,465

Source: City of Midland

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