We are given that \( \sin \theta = \frac{\sqrt{3}}{2} \). From the trigonometric identity \( \sin^2 \theta + \cos^2 \theta = 1 \), we can find \( \cos \theta \):
\[
\sin^2 \theta + \cos^2 \theta = 1 \quad \Rightarrow \quad \left( \frac{\sqrt{3}}{2} \right)^2 + \cos^2 \theta = 1 \quad \Rightarrow \quad \frac{3}{4} + \cos^2 \theta = 1.
\]
Solving for \( \cos^2 \theta \):
\[
\cos^2 \theta = 1 - \frac{3}{4} = \frac{1}{4} \quad \Rightarrow \quad \cos \theta = \frac{1}{2}.
\]
Now, \( \tan^2 \theta = \frac{\sin^2 \theta}{\cos^2 \theta} \):
\[
\tan^2 \theta = \frac{\left( \frac{\sqrt{3}}{2} \right)^2}{\left( \frac{1}{2} \right)^2} = \frac{\frac{3}{4}}{\frac{1}{4}} = 3.
\]
Thus, \( \tan^2 \theta - 1 = 3 - 1 = 2 \).
The value of \( \tan^2 \theta - 1 \) is \( \boxed{2} \).