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City and county briefed on SPET (sixth penny) ahead of May 5 special election
Summary
Director Jen Wade told the Laramie City Council and Albany County commissioners that the 2026 Specific Purpose Excise Tax (SPET or "sixth penny") proposal totals about $95 million, is structured as an amount-based, voter-approved tax with an estimated 10–12 year collection window, and would fund roads, public safety, recreation, airport and building projects.
Director Jen Wade told a joint Laramie City Council and Albany County Board of Commissioners work session that the Specific Purpose Excise Tax—often called the SPET or the "sixth penny"—is a voter-approved, amount-based local sales and use tax that can be spent only on projects listed on the ballot. The proposed 2026 SPET is roughly $95 million, with collection estimated over 10 to 12 years, Wade said, and interest earned on collections must be allocated to voter-approved projects.
Wade said the SPET is a major funding tool for essential infrastructure across Albany County, the city of Laramie and the town of Rock River. She outlined the long-term pattern of…
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