This bill establishes a homeowner property tax exemption in Wyoming, allowing homeowners to exempt 50% of the fair market value of their primary residence, up to a maximum of $200,000. The exemption applies only to single-family residential properties where the owner resides for at least eight months of the year, with provisions for active-duty military members who may not meet this requirement. The county treasurer is tasked with maintaining records of the tax revenue reductions caused by this exemption, and the Department of Revenue will reimburse local governments for these losses, subject to legislative appropriation.

The bill also includes a sunset provision, stating that the exemption will not apply for tax year 2027 and thereafter. It repeals prior appropriations related to similar exemptions and reverts any unobligated funds to the general fund. An appropriation of $176 million is allocated from the general fund to cover the reimbursement costs for government entities affected by the new exemption. The act is set to take effect immediately upon completion of the necessary legislative processes.

Statutes affected:
Introduced: 39-11-105, 39-13-102, 9-2-1008, 9-2-1012, 9-4-207