MIDLAND, Texas (KOSA) – Midland recorded the highest sales tax revenue ever in city history for the month of August.
Chief Financial Officer Christy Weakland says Midland is growing from within and attracting people from surrounding areas.
“We’ve seen 2021 a lot more summer activity post Covid but I feel like this year has been getting busier and busier for the city, if you look at tournaments and markets a lot of people come here to shopping in other cities as well, so it’s just a prosperous time for Midland,” Weakland said.
The City of Midland recorded the largest sales tax receipts in its history for the month of August, recording just over $6.3 million.
This is a 34.56% increase over last year’s August turnover…
“We can’t ignore the fact that inflation probably has something to do with it, the cost of everything is going up, as we spend our dollars, obviously we were going to pay more taxes, but the city is growing , the economy is better and people will have more money to spend because they have good jobs right now,” Weakland said.
The revenue means the city has already reached its budget, so next month’s revenue will be excess revenue that can be allocated to developments in the city.
The number recorded in the month of August reflects the revenues for June, because each month they record the revenues of the previous two months.
And the recorded revenues were a big surprise.
“In May we had another all time high of 5.9 million and we really felt that was the high it was going to get and the trend would start to go down a bit just because of the yearly trends that we are looking at , so we were surprised to see it dated back to August,” Weakland said.
The city is looking to use the money to improve Midland, which would include developing roads, infrastructure and parks.
While the increased revenue is positive for the city, Weakland says going forward they will remain conservative in their spending estimates as they don’t know what the future holds for the economy and this flow. of income.
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