Posted on 06/10/2004 6:48:56 AM PDT by Theodore R.
Cheyenne is least taxing city - magazine
Actually, Cheyenne is second to Casper for least-taxed city in the nation, but the Capital City topped Kiplinger's list because it's Wyoming's most populous.
By Jessica Lowell rep5@wyomingnews.com Published in the Wyoming Tribune-Eagle
CHEYENNE - The magazine won't even hit the stands until next week, but when it does, Kiplinger's will bear the news that Cheyenne is the least-taxed city in the nation.
Taxes paid by a family of four here - $2,200 - are less than one-fifth the taxes paid in Bridgeport, Conn., the city that ranks at the bottom of the Kiplinger list.
For its July issue, the personal finance magazine looked at the largest city in each state as well as a second city with a population around 50,000. For Wyoming, that city was Casper, and its inclusion leads to an interesting distinction.
Casper is actually the lowest-taxed city in the nation, but the magazine's published list covers each state's largest city. The difference in the tax bills is $94.
"Either way, I guess that's good news," Cheyenne Mayor Jack Spiker said.
The magazine is targeted at business people, and Spiker said a story like this one will raise the city's profile to a much larger audience.
"Any time that can happen, it's an asset to our economic development," he said.
The magazine's survey was for a family of four with an annual income of $90,000, which is the median income of Kiplinger's readers. It makes a number of assumptions about retirement account contributions, investments and college savings plans.
What puts Wyoming at the top of the list, the article said, is the lack of a state income tax as well as low property tax and below-average sales tax. The magazine identifies the sales tax at 5 percent.
While that may be true for Natrona County, the sales tax in Laramie County is 6 percent because voters here have approved two optional penny sales taxes to pay for large capital projects and roads.
While some city residents are pleased by the news, others find the magazine's metrics leave something to be desired.
"I think our taxes are fair, and I don't think we are getting away with murder," county resident Jerry Rowe said.
"If you ask the question, 'Are we overtaxed?' it has no value; it's irrelevant. The question is what did we get for the taxes we paid?"
On that basis, he said, it's harder to make the comparisons across the country.
Should be hung in every politicians office...
Ping!
Grew up in Casper. If you can stand the winters there (super windy and cold in winter), taxes and cost of living are low.
Could someone send me a link to the Kiplinger's study. I haven't been able to find it.
Lived in Casper for 18 months, and the wind finally drove us back to Texas. You have to experience it to understand how fierce it is. Then there was the time I took my car to the indoor car wash in the winter, drove home on the loop in the wind, and found my doors frozen shut when I got home, lol. People there were great.
The western part of Wyoming is very nice, and with equally low taxes.
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