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Solutions to quickly rising property taxes are coming in hot as the Wyoming Legislature prepares for a budget session in February. There’s a petition to cut taxes in half that, if enough …
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Solutions to quickly rising property taxes are coming in hot as the Wyoming Legislature prepares for a budget session in February. There’s a petition to cut taxes in half that, if enough signatures are obtained, would go on the fall ballot. There’s also a number of bills being considered in advance of the Budget Session, including one that would cap property tax hikes at 5% yearly. It’s something other states already do and a plan many county officials are already getting behind, including Park County Assessor Pat Meyer.
Meyer told county commissioners Monday that a solution is needed in time for this year’s assessments, because he doesn’t see values in counties such as Park falling off anytime soon.
That’s a fair warning I hope all of our legislators are taking very seriously, because another large increase to my family’s property tax bill would really hurt at a time when inflation has eaten into so much of our margin.
Meyer said the 5% cap bill, while not perfect, is good enough for now and would go into effect right away if passed, while the 50% property tax cut amendment petition going around wouldn’t be in time to halt yet another large increase this year, even if it does both reach the ballot and then pass into law.
While Meyer said the 5% cap bill has wide support, county commission chair Dossie Overfield noted the petition could leave some small counties without enough funding to operate. And while she said she could live with a 5% increase yearly (or even a 5% decrease if it came to that) commissioners Lloyd Thiel and Lee Livingston added that the increase in funding the county has received the last few years has allowed for action on some deferred maintenance that had built up during previous lean years.
Cutting property taxes in half sounds very nice personally, but I will concede the county does need adequate funds and is also dealing with inflation issues of its own — just ask Park County Engineer Brian Edwards when he goes to buy vehicles.
Still, something needs to happen, because as Meyer said (and I wholeheartedly agree) there will be an uproar if homeowners see yet another large double digit increase in property taxes this summer.
While the budget is obviously the top priority this session, property tax reform better be a close No. 2.
