
03/07/2025
Good Morning Sidney and Cheyenne County,
Several months ago, we reached out to a large law firm in Omaha with more than a dozen attorneys who specialize in Federal law. We have retained their services. This last week, we received their first report. More on that soon.
Right now though, let's stop all the smoke and mirrors. This morning we want to look at just one metric to show everyone just how much trouble we are in. This is the first of several we will show in the upcoming weeks. We need to fix it. The metric is Sales and Use Tax revenue. We have gone back through all records for the past 9 years looking for how Sidney is trending and it is not good. Let's take a look....
Sales and Use Tax Revenue
2016- $3,583,623
2017- $3,627,078
2018- $3,396,552
2019- $3,791,640
2020- $3,305,472
2021- $3,385,589
2022- $3,750,316
2023- $4,764,346
2024- $3,938,137
While all this is going on, our median income per family here in Cheyenne County has dropped by $20,000. This is why so many here are having a difficult time. What this metric does not show is INFLATION... Cost of living. The dollar since 2016 has had an average inflation rate of 3.09%. This means it takes $1.31 today to buy what $1 did in 2016. So, in 2024 just to keep even with 2016 we needed to make $4.6 million from sales and use tax, we made $3.9 million. We are going down when adjusted for inflation.
Some here say, “BBS bad talking is destroying our local economy”. No, we haven't had an active local economy for 9 years because we are doing NOTHING to fix it. Our city manager and his reckless spending are making it worse. I have a question, “where are the 100 new businesses?” Obviously the 100 new businesses, have had NO impact on our sales tax revenues. Also, this is why the city pushed so hard for the ½ cent sales tax, they need the money just to stay afloat. We are not keeping up with inflation.
Just look at our downtown. It is OBVIOUS we are in trouble. We are struggling and inflation is destroying what little sales revenue we have. This last month, 2 major buildings on the hill went up for auction. Currently, we have them valued at over $15 million. They auctioned for $1,25 million. That is horrible. Sidney does not have an active economy and hasn't been for a long time. This lack of economy is affecting schools, and businesses and soon we will be cutting more services because the money just isn't there.
Grants are not fixing our problem. We have paid out millions since 2016 and they are not working. We will look into that soon as well. We need to drive more business to make more sales. We are NOT a business-friendly community. Taxes are too high. We need to fix this first. We need to immediately stop spending. Elect new leaders with better ideas. We have been stagnated for 9 years. How much longer must we endure before we are willing to make some changes?
Inflation Calculator
https://www.in2013dollars.com/us/inflation/2016?amount=1