Cheyenne Reporting Healthy Tax Collections
CHEYENNE, Wyo. (AP) — Sales tax collections in the city of Cheyenne are doing better than expected.
The Associated Press reports that since the start of the fiscal year on July 1, Cheyenne has taken in about $5.89 million in sales tax revenue. That’s the most the city ever has gotten in the first five months of the fiscal year, up from $5.82 million in the same period last year.
Mayor Rick Kaysen says sales tax receipts are about $300,000 ahead of the city’s forecast while expenditures are $700,000 below forecast.
Local economists say sales tax revenues in recent months have been boosted partly by strong auto sales.
Wyoming cities and counties get about 30 percent of the 4 percent sales tax collected each year, with the rest going to the state.