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A one percent (1%) general purpose sales and use tax will be an item on the voting ballot in 2020. The City of Cody’s Governing Body passed a resolution obligating this additional percentage for essential services and capital expenditures only. If passed, revenues would be distributed to Park County and communities therein based on population and voted on every four years:
General Purpose Tax Resolution No. 2020–17
Unlike the distribution of the four percent (4%) sales and use tax, in which 70% is kept by the State of Wyoming, 99% of the optional penny revenue—generated from both Park County and Yellowstone National Park—will return to local governments. According to the State of Wyoming Department of Tourism, 30% of a 5th cent sales tax in Park County would be paid by visitors.
Based on a formula provided by the State of Wyoming Office of Economic Analysis, the average impact of an additional one cent sales tax on that household income would be $80 per year. There are 30 exemptions to the 5th cent tax according to Wyoming State Statute §39–15–105, including real estate, food, fuel, fertilizer, farm equipment, and many others.
For additional information, please view the link below or contact your local government officials.