CHEYENNE – In a comparison of the largest cities in each state, Cheyenne beat out all of the largest cities in other states to be ranked the city with the lowest combined national tax burden.
The data for the finding came from the District of Columbia’s Office of Revenue Analysis, which reviewed various taxes paid by residents in 2011 in the largest city in each state.
The report pointed out that Wyoming tax rates can vary widely from counterparts in other states’ largest cities.
“At the $150,000 income level, the Bridgeport, Conn. burden of $23,501 is almost five times the Cheyenne, Wyo. burden of $4,702,” the report stated.
A recent compilation and aggregation of the statistics by news service 24/7 Wall Street showed Cheyenne had the lowest combined tax burden in the nation among the cities. The article showed a family earning $25,000 pays an average of about $2,400 in taxes, the fifth-lowest rate in the nation. It was the second-lowest for a family earning $150,000, and had an unemployment rate of 5.2 percent, which ranked it the 10th lowest in the nation.
This is the latest recognition for Wyoming’s capital, which was also recently honored as the No. 3 place to find a job in the nation, according to an online job repository.
Wyoming Business Report
by Mark Wilcox