Cheyenne Mayor Says May Sales Tax Numbers Better Than Expected
Cheyenne Mayor Marian Orr says that while city sales and use tax collections in May were down a little bit compared to a year ago, the numbers were not nearly so bad as had been expected in light of the COVID-19 pandemic.
The mayor took to Twitter to post these comments:
''In these times I’ve learned there is such a thing as good-bad news! Sales/use tax figures for May were only down 5.1%! Granted we budgeted last year for a 6% increase in consumer spending - but this not nearly the double digit loss we were anticipating this year due to COVID-19."
Sales and use taxes are often considered an important measure of the overall economy because they are collected on business transactions.