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STATE OF WYOMING
HOUSE JOINT RESOLUTION NO. HJ0001
Property tax-classes of property and residential value.
Sponsored by: Joint Revenue Interim Committee
A JOINT RESOLUTION
for
1 A JOINT RESOLUTION providing for the assessment of
2 residential real property, commercial property, agricultural
3 property and personal property as separate property classes
4 for the purpose of taxation; providing for valuation of
5 residential real property; and revoking a prior
6 constitutional joint resolution which has not been submitted
7 to the voters.
8
9 BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF WYOMING,
10 two-thirds of all the members of the two houses, voting
11 separately, concurring therein:
12
13 Section 1. The following proposal to amend Wyoming
14 Constitution, Article 15, Section 11(a)(intro), (ii), (iii)
15 and by creating new paragraphs (iv) through (vi) and (b)
16 through (d) is proposed for submission to the electors of the
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1 State of Wyoming at the next general election for approval or
2 rejection to become valid as a part of the Constitution if
3 ratified by a majority of the electors at the election:
4
5 Article 15, Section 11. Uniformity of assessment
6 required.
7
8 (a) All property, except as in this constitution
9 otherwise provided, shall be uniformly valued at its full
10 value as defined by the legislature, in three (3) six (6)
11 classes as follows:
12
13 (ii) Property used for industrial purposes as
14 defined by the legislature; and
15
16 (iii) All other Residential real property;, real
17 and personal.
18
19 (iv) Commercial property;
20
21 (v) Agricultural and grazing lands; and
22
23 (vi) Personal property.
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1
2 (b) The legislature shall prescribe the percentage of
3 value which shall be assessed within each designated class.
4 All taxable property shall be valued at its full value as
5 defined by the legislature except residential real property
6 which may be valued at less than full value for purposes of
7 taxation as prescribed by the legislature through laws
8 establishing a maximum permissible increase in annual
9 residential real property values and agricultural and grazing
10 lands which shall be valued according to the capability of
11 the land to produce agricultural products under normal
12 conditions. The percentage of value prescribed for industrial
13 property shall not be more than forty percent (40%) higher
14 nor more than four (4) percentage points more than the
15 percentage prescribed for residential real property or more
16 than forty percent (40%) higher nor more than four (4)
17 percentage points more than the percentages prescribed for
18 all other property other than minerals.
19
20 (c) Except as provided in this section, the legislature
21 shall not create new classes or subclasses or authorize any
22 property to be assessed at a rate other than the rates set
23 for authorized classes. The legislature may create a subclass
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1 of residential real property for owner occupied primary
2 residences and a second subclass of all other residential
3 real property as the legislature determines necessary for a
4 just valuation of property. Each class and subclass of
5 residential real property may be assessed at a different rate
6 as determined by the legislature.
7
8 (d) All taxation shall be equal and uniform within each
9 class and subclass of property. The legislature shall
10 prescribe such regulations as shall secure a just valuation
11 for taxation of all property, real and personal.
12
13 Section 2. That the Secretary of State shall endorse
14 the following statement on the proposed amendment:
15
16 The adoption of this amendment would specify that residential
17 minerals and mine products, industrial property, real
18 property, commercial property, agricultural and grazing lands
19 and personal property are separate classes of property for
20 purposes of property tax assessments. The amendment would
21 authorize the legislature to prescribe that the value of
22 residential real property may be valued for purposes of
23 taxation at less than full value through the implementation
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1 of a maximum increase in annual valuation changes. The
2 amendment would also authorize the legislature to create a
3 subclass of residential real property for owner occupied
4 primary residences and an additional subclass of residential
5 real property as determined by the legislature for the just
6 valuation of property.
7
8 Section 3. Senate Joint Resolution No. 3 approved by
9 the legislature on March 2, 2023 and signed by the governor
10 on March 3, 2023 is hereby repealed, rescinded, cancelled,
11 nullified and voided and shall not be submitted for approval
12 to the Wyoming electors at the 2024 general election.
13
14 (END)
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