Midland has record breaking sales tax revenue

Published: Aug. 12, 2022 at 5:32 PM CDT
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MIDLAND, Texas (KOSA) - Midland had the highest sales tax revenue ever recorded in the history of the city for the month of August.

Director of FInance Christy Weakland says Midland is growing from within and attracting people from surrounding areas.

“We saw 2021 a lot more summer activities after Covid but I feel like this year’s been ever more busy for the city, if you look at the tournaments and the markets a lot of people come here to shop from other cities as well so it’s just a prosperous time for Midland,” said Weakland.

The City of Midland had the largest sales tax revenue in its history for the month of August, recording a little over $6.3 million.

That is a 34.56% increase from last year’s August revenue…

“We can’t ignore the fact that inflation probably has something to do with it, the cost of everything is up, so as we spend our dollars were obviously going to pay more taxes but the city is growing, the economy is better, and people are going to have more money to spend because they have good jobs right now,” said Weakland.

The revenue means that the city has already met their budget, so the next month’s revenue will be excess revenue that can go towards developments in the city.

The number recorded in the month of August reflects the revenue from June, as each month they record the revenue from two months prior.

And the recorded revenue came as a big surprise.

“In May we had another record breaker of 5.9 million and we really felt that was the highest it was going to get and it would kind of start trending a little back down just because of the yearly trends we look at so we were surprised to see it back up in the month of August,” said Weakland.

The city is looking to use the money to improve Midland which would include developing roads, infrastructure, and parks.

While the increasing revenue is a positive for the city, Weakland says moving forward they will still be conservative in their spending estimates because they don’t know what the future holds for the economy and that revenue stream.

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