This joint resolution proposes an amendment to the Wyoming Constitution that aims to eliminate property tax assessments on residential properties. Specifically, it seeks to amend Article 15, Section 11(b) and (c) by establishing that the percentage of taxable value for residential real property shall be set at zero percent (0%). This change would mean that no property tax would be assessed on residential real property, thereby relieving homeowners from this financial obligation.

In addition to the insertion of the zero percent assessment for residential properties, the bill also includes several deletions from the current law. Notably, it removes language that previously allowed for the assessment of residential real property and the creation of subclasses for owner-occupied primary residences. The resolution emphasizes that the legislature will continue to prescribe assessment percentages for other property classes, but residential real property will be exempt from any property tax assessments if the amendment is ratified by voters in the next general election.