CHEYENNE (WNE) — Wyoming business leaders have joined together to urge voters to vote against Proposition 1 on this November’s ballot.

Prop 1, the Wyoming Homeowner’s Primary Residence Property Tax Exemption Initiative, calls for a 50% cut in residential property taxes.

“Proposition 1 is bad for Wyoming businesses and communities,” said Renny Mackay, president of the Wyoming Business Alliance. “With no plan to replace important local services, state politicians will have to resort to new fees or taxes, creating an unpredictable environment for small and large businesses alike.”

Eric Boley, president of the Wyoming Hospital Association, added: “Wyoming’s hospitals urge you to vote against Prop 1. When medical care is needed — whether at a hospital, through 911, or search and rescue, Wyoming families can’t afford to wait. Prop 1 would decimate county emergency services, and that’s why the Wyoming Hospital Association stands strongly opposed.”

“After careful discussion, we could not support Proposition 1,”  said Angela Wilson, president of Wyoming REALTORS. “While it would provide property tax relief, we are concerned about what the loss of revenue could mean for critical local services.”

Jim Magagna, executive vice president of the Wyoming Stock Growers Association, also expressed concern about the initiative. 

“This reduction in property tax would inevitably lead to future increases in other taxes that will negatively impact the ranching community,” he said.