This bill introduces a property tax exemption for tangible personal property in Wyoming, amending existing laws to reflect this change. Specifically, it removes the previous threshold of $2,400 for business property to qualify as de minimis and instead exempts all tangible personal property, with the exception of property held for personal or family use. Additionally, the bill modifies penalties for interfering with county assessors and clarifies the treatment of liens related to real and personal property taxes.

Furthermore, the bill repeals several provisions concerning the reporting and valuation of personal property, streamlining the process for property tax assessments. It specifies that the new exemptions will not apply to any property tax assessments imposed before January 1, 2025, and establishes that the act will take effect on that same date.

Statutes affected:
Introduced: 18-3-205, 39-11-105, 39-13-108, 39-13-102, 39-13-103, 39-13-107