Will reducing property taxes result in a loss of basic essential services for Wyomingites? This question comes up during every political forum in this election season.
Property taxes is a relatively small portion of overall state revenues. However, the recent significant increases have been devastating for the financial picture of many of our residents who also face rising costs for homeowners’ insurance, utilities, repairs and food.
What are the facts? As reported by the State Treasurer, the state now holds nearly $35 billion in various funds that have been generated by revenue surpluses in past years. * This includes more than $13 billion in the Permanent Wyoming Mineral Trust Fund generated by the hard work of our energy companies and their employees.
How did we get here and how do we move forward? Not every state in our nation has been able to achieve revenue exceeding expenditures as we have. It is time to return some of those accumulated funds back to the people and the businesses they work for in the form of property tax reductions during good years.
An interesting proposal is to cap the increases of state government spending to the rate of inflation plus population growth. Any year of the state budget where revenue exceeds expenditures would result in 10% retained by the treasurer and 90% being returned to the people in the form of tax reductions.
If there were a time in the future requiring a special expenditure such as an emergency, the legislature could pass a special appropriation to accommodate that need with a 60% or 2/3rd vote.
Wyoming. We can do this for the hard-working people of our state without cutting funding for the essential services required for public safety, infrastructure, healthcare and education.
*https://statetreasurer.wyo.gov/wp-content/uploads/2026/07/Packet-05312026.pdf
~ Ross Schriftman
