The bill provides a property tax reduction for the tax year 2023, specifically targeting industrial and other properties. It introduces a new subparagraph (F) to W.S. 39-13-107(b)(i), which states that property taxes due will be reduced by 16.67% for industrial properties and 33.33% for all other properties. Additionally, a new subsection (h) is added to W.S. 39-13-113, which similarly reduces the monthly or annual tax due on mineral production for the calendar year 2023 by 16.67%. Both provisions will expire on June 30, 2024.

The bill also includes a provision for reconciling any overpayments of taxes on mineral production that were made prior to the effective date of the act, ensuring that taxpayers receive appropriate adjustments. The act is set to take effect immediately upon the completion of all necessary legislative processes.

Statutes affected:
Introduced: 39-13-107, 39-13-113