Wyoming Initiative 1 Could Have Economic Impact On Sheridan College Among Other Places

Wyoming voters will decide on an initiative in the November General Election, that would exempt 50% of the assessed value of a primary residence for qualifying homeowners from property taxation, but that could have a big financial impact on many other things including post-secondary education institutions.

The Sheridan College Board of Trustees held a special meeting on Tuesday (August 11th) to pass a resolution meant to inform the public of possible effects to the College’s revenue if Wyoming Initiative 1 passes.

The resolution is meant to inform the voting public in Sheridan and Johnson Counties, which is the College’s district and service area, that if the Initiative passes and there’s no addition of sufficient alternate funding, the College might have to decrease its programming and services, and it would be more difficult to bring other programs back, such as athletics.

College President Doctor Walter Tribley says he estimates the College could lose more than $1.3 million as early as the beginning of the next fiscal year, because about 70% of the property tax in Sheridan County is residential.

He adds he has been in talks with other Wyoming community colleges who are facing a similar situation.

“This initiative hurts our college disproportionately more whereas Sweetwater County has so much more revenue coming from commercial, if you will, than we do. It’s going to hurt them and it will.”

The resolution passed on a 5-1 vote with Trustee Gary Reynolds absent.

Trustee Chuck Halloway cast the lone no vote and says if the college has to make cuts it will be painful, but not catastrophic.

He adds the resolution passed by the board may send the wrong type of message.

“I think it is necessary that we have property tax relief especially for our older residents who are on fixed incomes. The resolution we passed I think is going to be interpreted as being against the resolution to produce property taxes and I am really concerned about the optics.”

The value of one mill in Sheridan County for 2026 is almost $683-thousand, and 5 1/2 mills are levied to support Sheridan College.