The bill proposes a property tax exemption for land owned by the state of Wyoming that is leased specifically for agricultural purposes. It amends the existing law under W.S. 39-11-105(a)(ii) to clarify that property owned by the state is exempt from property taxation when it is used primarily as land leased for agricultural purposes, in addition to its current exemption for governmental purposes.

The effective date for this new exemption is set for January 1, 2025. The bill also includes a staff comment suggesting that the Joint Revenue Committee may discuss this issue further in their upcoming meeting and recommends considering the establishment of a separate paragraph for this tax exemption in the law.

Statutes affected:
25LSO-0336 v0.4: 39-11-105