Replacing Wyoming’s Property Tax – 5 Ideas

The debate is on for and against Proposition 1, which is on the ballot in the general election. This proposition would reduce property taxes by 50% in the state of Wyoming.

Read the proposition here.

Listeners to Wyoming's morning radio talk show on Monday morning began calling in from across the state, both for and against the proposition. At some point, the conversation turned to alternatives to property taxes. Below are a few ideas that people came up with.

There was the idea of a statewide sales tax a few years ago. If done right, it could replace local property taxes altogether. The idea was proposed but failed to move through the legislative process.

Wyoming holds approximately $36.3 billion in total state savings and cash reserves, giving it one of the largest rainy-day and reserve balances per capita in the United States. Can some of the interest and dividends be used in lieu of property taxes?

Since gaming centers are popping up all over Wyoming and people are dropping wads of cash, why not use some of that in place of property taxes? People are giving up that money voluntarily, after all.

What kind of taxes will we be getting from hyperscale data centers, and can we use them?

Wyoming already has the lottery, but we don't have lottery scratch-off tickets. Could we generate revenue that way? That would be considered another voluntary tax.

One caller suggested legalizing marijuana and using the tax revenue to pay property taxes.

These were just a few ideas offered up by callers and folks texting the show. The idea of thinking outside the box is a good one. We don't have to continue to do things the way that they have always been done.

Now that you see what folks across Wyoming are thinking, can you think of anything else that might bring in money to replace a local property tax?