The fiscal year for accounting and budgeting purposes of the City of Midland shall begin on October 1 of each calendar year and shall terminate on September 30 of the next succeeding calendar year.
(Ordinance 3902 adopted 5/8/1962)
The assessment date for tax purposes of the City of Midland shall begin on January 1 of each calendar year and all assessments of property, both personal and real, shall be made as of that date.
(Ordinance 3902 adopted 5/8/1962)
Each person, partnership, association or corporation owning or holding property within the limits of the City of Midland shall, between January 1 and April 30 of each calendar year, render under oath to the City tax assessor, or his authorized representative, a full and complete inventory of all property so owned or held by him, her or them within the limits of said City on January 1 of each calendar year.
(Ordinance 3902 adopted 5/8/1962)
All property taxes levied by the governing body of the City of Midland shall become due on October 1 of the year for which the levy is made and are payable at the City tax office with the collection under the supervision of the City tax collector. No discounts will be allowed for early payment of these taxes.
Payments of these taxes may be made up to and including the following January 31 without penalty or interest. Taxes not paid by this date shall become delinquent on the following day, February 1, and the following penalty shall be payable in addition to the tax if paid during the month shown.
February
1%
March
2%
April
3%
May
4%
June
5%
July or thereafter
8%
In addition to the above penalty such delinquent taxes shall bear interest at the rate of six percent per annum from the delinquency date.
(Ordinance 3902 adopted 5/8/1962)
Any tax as assessed above, the total of which is in excess of $10.00, may be paid by the person, partnership, association or corporation against whom assessed in the following manner without penalty or interest thereon:
(A) 
One-half of the taxes imposed may be paid on or before November 30 of the year assessed.
(B) 
The final one-half of the taxes imposed may be paid on or before the succeeding June 30, provided the first one-half was paid on or before November 30 as hereinbefore provided. In the event they are not paid in this manner, the unpaid taxes shall draw penalty and interest from February 1.
In the event such taxes are not paid in the manner stated, then and in that event such taxes shall become delinquent and be treated as provided in Section 3-2-4.
(C) 
In the allowance of any amount as a credit or a refund, or in the collection of any amount as a deficiency or underpayment of any ad valorem tax on either real or personal property imposed by the City of Midland, Texas, a fractional part of a dollar may disregarded by the City tax assessor and collector. Any such overpayment or underpayment may be treated as an income or expense item in the general fund of the City in order to make the tax credit balance with the amount due on either the current or delinquent tax rolls, as the case may be.
(Ordinance 3902 adopted 5/8/1962; Ordinance 4065 adopted 1/28/1964)
All statutes of the State of Texas relative to the assessment, levying and collection of taxes and the powers in regard thereto as made applicable to county tax assessors and collectors are hereby adopted, except as otherwise expressly provided in this Chapter and the City Charter and any amendments thereto.
(Ordinance 3902 adopted 5/8/1962)
Under the authority of Section 1-b(b) of Article VIII of the Constitution of Texas, $6,000.00 of the assessed value of residence homesteads, as now defined by law, of persons 65 years of age or older on January 1 of any calendar year shall be exempt from ad valorem taxation by the City of Midland for such year. Any person claiming such exemption for his or her property shall, prior to April 30 of the tax year for which such exemption is claimed, render such property as a homestead upon a form prepared by the City tax assessor-collector for such purpose and submit such proof of age and ownership of the property as he may reasonably require. This increased exemption shall become effective beginning with the current 1977 tax year.
(Ordinance 5189 adopted 7/26/1977)