This joint resolution proposes an amendment to the Wyoming Constitution, specifically targeting Article 15, to allow the legislature to establish a specific valuation method for residential property for taxation purposes. The amendment introduces new provisions that exempt residential real property from being valued and assessed separately, as determined by the legislature. It also modifies the duties of the state board of equalization to exclude residential real property from their standard valuation processes, aligning with the new legislative authority.

Additionally, the amendment creates a new subsection (e) in Article 15, which explicitly states that residential real property may be valued for taxation using a method prescribed by the legislature, rather than the traditional fair market value approach. This change aims to provide the legislature with greater flexibility in determining how residential properties are assessed, potentially leading to more consistent and equitable taxation practices across the state.