This bill amends existing tax law in Wyoming to limit the applicability of certain school tax mills specifically to residential real property that serves as the primary residence of the owner. A new definition of "Residential real property" is introduced, which specifies that it includes properties designed to house up to three families and associated land owned by the property owner. Additionally, the bill stipulates that zero mills will be assessed on such residential properties if the owner submits a claim to the county assessor by March 1 each year, confirming that the property is their primary residence.

Furthermore, the bill repeals the existing 25% homeowner tax exemption, which is outlined in the deleted section of the law. The changes will take effect for the tax year beginning January 1, 2028, with the overall act becoming effective on July 1, 2027. These amendments aim to provide tax relief for homeowners by eliminating school tax assessments on their primary residences while also streamlining the definitions and requirements related to residential property taxation.

Statutes affected:
27LSO-0109 v0.3: 39-11-101, 39-13-104, 39-11-105