x
Breaking News
More () »

Midland-Odessa rake in over $10.7M in December tax revenue

Both cities released their tax revenue for the month of Dec., here's the breakdown.

December was another big month for both Midland and Odessa. 

The cities brought in a total of $10,786,077.90 in taxes. 

Here is the breakdown:

Midland

The City of Midland collected December's revenue from the State Comptroller's Office in the amount of $5,052,908.

This is a 6.52%, or $309,376, increase from December 2018. 

The year-to-date total sales tax revenue for the fiscal year 2019-2020 is up 2.17 percent, $318,390, from 2019's totals at this time.

With this month's addition, Midland has brought in $14,998,310 over 2019. 

RELATED: WATCH LIVE: MISD bond ballots recount

RELATED: Education Partnership creates 'POWER Bags' to encourage early literacy

Odessa

The City of Odessa received its December sales tax check, in the amount of, $5,733,169.93, which includes the Economic Development sales tax of 1⁄4 cent. 

The City of Odessa will receive $4,586,535.94 and give the remaining $1,146,633.99 to the Odessa Development Corporation.

While Midland saw a rise, Odessa noticed a 6.08%, $296,719.74, decrease in sales tax revenue compared to December 2018.

During the 2019-2020 fiscal year, Odessa's tax revenue is 2.58%, $(377,930.34), below the previous fiscal year-to-date.

The City has budgeted $41,100,000.00 in net sales tax revenues for the current fiscal year.

Sales tax revenue is generated by sales tax income from two months prior to collection; December collection is based on October sales.

MORE FROM NEWSWEST 9: 

Before You Leave, Check This Out