The bill proposes a reduction in the property tax assessment rate for the "all other property" class in Wyoming. Specifically, it amends the definitions of "taxable value" in W.S. 39-11-101 and the imposition of tax in W.S. 39-13-103 to change the assessment rate from nine and one-half percent (9.5%) to seven and one-half percent (7.5%). This change applies to both real and personal property within this classification.

The effective date for this new assessment rate is set for January 1, 2024. This legislative change aims to lower the tax burden on property owners classified under "all other property," potentially providing financial relief and encouraging economic activity within the state.

Statutes affected:
Introduced: 39-11-101, 39-13-103