CHEYENNE —A ballot petition to limit property taxes in Wyoming failed to receive the needed number of accepted signatures.
The proposal would exempt 50 percent of the assessed value primary residences for a limited period for Wyoming residents.
The petition was labelled “People’s Initiative to Limit Property Tax in Wyoming through a Homeowners’ Property Exemption.”
This ballot question has enormous appeal demonstrated by how close the petitioners came to meeting the stiff requirements for a ballot proposition in this state.
They were only 1,030 short of the 29,730 valid signatures required.
According to the secretary of state’s office, more than 40 packets of signatures were rejected for various reasons.
The sponsors have until April 2025 to get the required number of valid signatures to nail a slot on the 2026 general election ballot.
They can do this by correcting errors found on those 40 rejected packets of signatures.
If that isn’t enough, they can gather additional signatures.
Earlier this year, the sponsors missed the filing date on the initiative before the 2024 budget session.
This piece of the law is intended to give the lawmakers a chance to pass a similar bill and negate the ballot approach.
The pressure on the 2025 session comes because if the legislators reject the 50 percent cut bill or something like it, it is possible it will go on the ballot and will be adopted eagerly by voters
As for the 2024 ballot there are no property tax proposals listed.
But there is a resolution passed in 2023, sponsored by Sen. Don Dockstader, R-Afton, to change the tax structure in the constitution.
The move would allow lawmakers to deal with residential property tax as an independent entity. Currently it is included in the” other” class which also after commercial property like the big box stores and the like.
This means that any tax break given to homeowners is shared by commercial properties like banks and Wal Mart.
But Dockstader’s plan is long-range. It takes time to change the constitution.
Meanwhile, the best property tax bill to survive the 2024 Legislature’s the one beefing up the tax refund program for disabled and low income people.
This is an old program hatched in 1979 by Gov. Ed Herschler to cut poor people into sharing some of the fiscal benefits of the coal boom in the Power River Basin.
One other program that passed helps long-term homeowners like me.
I live in Laramie County where the property values have increased but not nearly like those in Teton Country. I was automatically allowed the tax break being over 65 and having lived in my house for more than the required limit.
The tax break was small and I didn’t need or expect it.
I have always found Wyoming property taxes to be very reasonable compared to those in Iowa where I used to live.
The state, meanwhile, is always bumping up against the constitutional dictate of equal and uniform whether it’s taxes or schools. This is what makes governing so difficult.
How can you have a uniform and equal form of taxation that affects Teton, Laramie and Niobrara Counties the same?
Teton County obviously needs some form of tax reform, but other counties may not have the same problem.
The 50 percent cut would mean local revenue losses of $137 million in 2025 and $141 million in 2026 according to internet sources.
This money goes primarily to schools then counties for road repairs and he like and cities.
None of it goes to the state.
If the 50 percent cut goes through, count on a tax increase of some type. to make up the difference.
The Revenue Committee’s list of interim topics ranks all property tax bills as No 1 priority.
The committee’s Number 2 priority interim study is —— tax increases
to replace revenue reductions due to revision in the property tax system.
All tax cuts have consequences.
Contact Joan Barron at 307-632-2534 or jmbarron@bresnan.net
