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 proposed amendment will be submitted to the electors of Wyoming for approval or rejection in the next general election, and if ratified by a majority, it will become part of the state constitution.