2023 23LSO-0195
STATE OF WYOMING
HOUSE BILL NO. HB0098
Property tax-homeowner's exemption.
Sponsored by: Joint Revenue Interim Committee
A BILL
for
1 AN ACT relating to taxation; establishing a homeowner's
2 exemption for primary residences; providing a penalty for
3 false claims; and providing for an effective date.
4
5 Be It Enacted by the Legislature of the State of Wyoming:
6
7 Section 1. W.S. 39-11-105(a) by creating a new
8 paragraph (xliii) is amended to read:
9
10 39-11-105. Exemptions.
11
12 (a) The following property is exempt from property
13 taxation:
14
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1 (xliii) A portion of property used as a primary
2 residence as a homeowner's exemption. The following shall
3 apply to the homeowner's exemption:
4
5 (A) For property used as a primary
6 residence, up to fifty thousand dollars ($50,000.00) of the
7 fair market value not to exceed twenty-five percent (25%)
8 of the total fair market of the property as a homeowner's
9 exemption. Not more than one (1) homeowner's exemption
10 shall apply to the same property in any year and no owner
11 shall claim more than one (1) homeowner's exemption in any
12 year, including property with a family dwelling that houses
13 more than one (1) family. To claim a homeowner's exemption
14 the person shall have been a resident of this state for not
15 less than five (5) years prior to claiming an exemption
16 under this paragraph and shall have resided in the
17 applicable primary residence for at least six (6) months of
18 the immediately preceding tax year. To claim a homeowner's
19 exemption the owner of the property shall submit a claim to
20 the county assessor not later than the fourth Monday in May
21 on forms provided by the department of revenue
22 demonstrating that the person is the owner of the property
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1 and that the property is the person's primary residence.
2 False claims are punishable as provided by W.S. 6-5-303;
3
4 (B) After filing a sworn claim pursuant to
5 subparagraph (A) of this paragraph, in subsequent years the
6 claimant shall remain qualified for the homeowner's
7 exemption provided by this paragraph if the claimant
8 contacts the assessor's office by telephone, mail or other
9 communication method on or before the fourth Monday in May
10 and confirms that the claimant continues to meet the
11 requirements set forth in this paragraph;
12
13 (C) The county treasurer for each county
14 shall keep accurate records of the reduction in tax
15 revenues caused by the homeowner's exemption for the county
16 and for each governmental entity for which a tax levy is
17 made pursuant to W.S. 39-13-104(k) and shall report that
18 information to the department. The department shall compile
19 the information received from each county and shall request
20 that the treasurer transfer the required amount from the
21 legislative stabilization reserve account. The department
22 shall distribute the appropriate amount to each county
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1 treasurer who shall distribute the funds as provided in
2 W.S. 39-13-111;
3
4 (D) The department shall adopt rules
5 necessary to administer the homeowner's exemption under
6 this paragraph;
7
8 (E) As used in this paragraph "owner" means
9 any of the following provided that no other person who may
10 qualify as an owner or joint owner shall apply for a
11 homeowner's exemption for the same property in the same
12 year:
13
14 (I) A person who occupies and owns a
15 primary residence either solely or jointly with other
16 owners;
17
18 (II) A person who occupies a primary
19 residence as a vendee in possession under a contract of
20 sale; or
21
22 (III) A person who occupies a primary
23 residence owned by a business entity primarily formed for
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1 the purpose of farming or ranching if the person is a
2 shareholder or partner of the business entity or is related
3 to a shareholder or partner of the business entity.
4
5 Section 2. This act is effective July 1, 2023.
6
7 (END)
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Statutes affected:
Introduced: 39-11-105