MIDLAND, Texas — The City of Midland reported the second most sales tax collected for Fiscal Year 2024.
According to the Texas Comptroller Office, the City of Midland collected $5.192 million in September finishing with $67.098 million.
The yearly total was the second most in Midland’s history, shortly behind the 2023 fiscal year with $68.369 million.
It was reported that 34.3 percent of the sales tax collected came from retail trade — 17.1 percent from manufacturing and 15.1 percent from professional and other services in August.
"Wholesale and Manufacturing saw a decrease from August 2024 year to date August 2023 both of these being predominant oil related industries," according to the release. "When comparing August 2024 to August 2023, sales tax contributions increased in all other businesses, including retail, hotels, food service, and construction.”
Sales tax revenue is calculated from the sale tax income two months before collection. The City of Midland collects a full cent of the 8.25 percent sales tax in the city.
Below is the sales tax report:
Sales tax report
September 2024: $5,192,372
September 2023: $5,315,164
Decrease from FY 2023: 2.31%
Year-to-date FY 2024: $67,098,426
Decrease from FY 2023: 1.86%
Note: The City YTD actuals finished over budget by $2,098,426.
Midland Development Corporation
September 2024: $1,298,093
Year-to-date FY 2024: $16,774,605
Largest annual city collections
Fiscal year 2023: $68.369 million
Fiscal year 2024: $67.098 million
Fiscal year 2019: $60.304 million
Fiscal year 2022: $58.439 million
