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Casper staff warns property-tax changes could cut about $1.8 million from next year—s budget
Summary
City staff told the City Council that recently passed state legislation and other valuation changes will reduce property-tax revenue and mineral-production valuations, creating a roughly $1.8 million shortfall the city must reconcile in next year—s budget.
Carter, a city staff member providing a legislative update to the City Council, said the Legislature—s chief property tax bill (referred to in the meeting as "69") would, if enacted as passed, reduce residential property assessments by 25 percent and create a roughly $1 million general-fund revenue impact for the city.
Carter said the 25 percent reduction followed earlier debate that at one point considered a 50 percent cut. He told councilors the bill as passed contains no statewide backfill for local governments and that the city will need to account for the loss when preparing next year—s budget. "That bill that I'm talking about is, referred to as 69. ... it resulted in a 25% residential property tax reduction," Carter said.
The staff presentation put the…
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