2024 24LSO-0442
STATE OF WYOMING
HOUSE BILL NO. HB0127
Property tax exemption-specified real property.
Sponsored by: Representative(s) Locke, Andrew, Bear,
Hornok, Jennings, Neiman, Pendergraft, Penn,
Rodriguez-Williams, Slagle, Smith, Strock,
Styvar, Trujillo and Ward and Senator(s)
Biteman, French, Ide, Laursen, D and Salazar
A BILL
for
1 AN ACT relating to ad valorem taxation; establishing a
2 property tax exemption for real property in the all other
3 property class of property; requiring information related
4 to the tax exemption to be included on the tax assessment
5 schedule; providing rulemaking authority; specifying
6 applicability; and providing for an effective date.
7
8 Be It Enacted by the Legislature of the State of Wyoming:
9
10 Section 1. W.S. 39-11-105(a) by creating a new
11 paragraph (xliii) and 39-13-103(b)(viii) are amended to
12 read:
13
14 39-11-105. Exemptions.
1 HB0127
 2024 STATE OF WYOMING 24LSO-0442
1
2 (a) The following property is exempt from property
3 taxation:
4
5 (xliii) A portion of the value of real property
6 in the all other property category of property as provided
7 in W.S. 39-13-103(b)(iii)(C) except agricultural land
8 valued under W.S. 39-13-103(b)(x). This exemption shall not
9 apply to personal property. The following shall apply to
10 the exemption under this paragraph:
11
12 (A) Subject to subparagraph (B) of this
13 paragraph, the amount of the exemption under this paragraph
14 shall be any assessed value of the property that is in
15 excess of the prior year taxable value of the property plus
16 the rate of change in the median household income for the
17 county where the property is located as determined by the
18 department of workforce services or three percent (3%),
19 whichever is less. For the tax year beginning January 1,
20 2024 only, the prior year taxable value used to determine
21 the exemption under this paragraph shall be determined to
22 be the assessed value of the property in 2019 plus the rate
23 of change in the median household income for the county
2 HB0127
 2024 STATE OF WYOMING 24LSO-0442
1 where the property is located as determined by the
2 department of workforce services or three percent (3%),
3 whichever is less, for each tax year from 2020 to 2023;
4
5 (B) The exemption under this paragraph is
6 not applicable and the property shall be valued at full
7 value if the taxpayer acquired the property during the
8 prior calendar year;
9
10 (C) The department shall adopt rules
11 necessary to administer the exemption under this paragraph.
12
13 39-13-103. Imposition.
14
15 (b) Basis of tax. The following shall apply:
16
17 (viii) Every assessment schedule sent to a
18 taxpayer shall contain the property's estimated fair market
19 value for the current and previous year, or, productive
20 value in the case of agricultural property. The schedule
21 shall also contain the assessment ratio as provided by
22 paragraph (b)(iii) of this section for the taxable
23 property, the amount of taxes assessed on the taxable
3 HB0127
 2024 STATE OF WYOMING 24LSO-0442
1 property from the previous year, and an estimate of the
2 taxes which will be due and payable for the current year
3 based on the previous year's mill levies and, if the
4 property is eligible for an exemption under W.S.
5 39-11-105(a)(xliii), an estimate of the taxes that will be
6 avoided pursuant to the exemption under W.S.
7 39-11-105(a)(xliii). The schedule shall contain a statement
8 of the process to contest assessments as prescribed by W.S.
9 39-13-109(b)(i);
10
11 Section 2. The exemption provided by this act shall
12 first apply to the tax year beginning January 1, 2024.
13
14 Section 3. This act is effective immediately upon
15 completion of all acts necessary for a bill to become law
16 as provided by Article 4, Section 8 of the Wyoming
17 Constitution.
18
19 (END)
4 HB0127


Statutes affected:
Introduced: 39-11-105, 39-13-103