Cape County sales tax report shows upswing

The recent news that Cape Girardeau County's sales tax revenue is up 7.75 percent is great news. The June general sales tax report, which provides this information, opens the door to a possible reduction in property taxes. This, of course, is even better news for residents.

Granted, the six-month figure is imprecise for prediction. In recent years, the early numbers did not hold up, which meant adjustments had to be made. Furthermore, as this is a reassessment year, so property taxes may rise as the value of property increases.

This means, of course, that it is too soon to celebrate a property tax reduction.

But it is not too soon to be hopeful.

As the Southeast Missourian recently reported, the midyear assessment does "indicate a likely decrease in the county's property tax levy. Â… This would be the first decrease since 2012." Concerning property tax increases, the assessment will be completed by month's end, but Assessor Bob Adams has indicated that any increase in property taxes will not be substantial.

The current forecast, therefore, seems to call for measured optimism that taxpayers will experience some relief, which is always great news for our local economy. When people get to keep more of their own money, they tend to breathe a little easier. They also tend to spend even more than they have already been spending, often within their own communities -- a win-win situation.

While the economic reports nationwide offer grim findings, locally people are spending more money. We hope to see the economic activity continue on the upswing.