The City of Midland reported receiving a record sales tax collection for any month.
The City showed a collection of $6,693,675 this month to beat the collection from February 2023 ($6,599,940) and to beat the all-time monthly mark ($6,650,766) set in August 2023.
The City of Midland also showed its year-to-date collection from the Texas Comptroller increased to $28.921 million, which topped the $28.681 million collected through the first five months of the fiscal year last year.
Sales tax revenue is generated by sales tax income from two months prior to collection; February’s collection is based on December 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
February 2024: $6,693,675
February 2023: $6,599,940
Percentage increase: 1.42
FY 2024 to-date: $28,921,990
FY 2023 to-date: $28,681,167
Percentage increase: 0.84
Midland Development Corp.
February 2024: $1,673,419
FY 2024 to-date: $7,230,498
Source: City of Midland