summary
Introduced
02/12/2024
02/12/2024
In Committee
Crossed Over
Passed
Dead
03/05/2024
03/05/2024
Introduced Session
2024 Budget Session
Bill Summary
AN ACT relating to ad valorem taxation; limiting the maximum annual taxable value increase for residential property; striking obsolete language; and providing for a contingent effective date.
AI Summary
This bill amends the state's property tax laws to limit the maximum annual increase in the taxable value of residential property to the lesser of the rate of inflation or 5%. This cap on the taxable value increase does not apply to any increase attributable to significant changes, additions, reductions, or improvements to the property, or if the property is transferred to a new owner. The bill also includes a contingent effective date of January 1, 2025, dependent on the approval of a constitutional amendment during the 2024 general election that authorizes the statutory modifications provided in the bill.
Committee Categories
Budget and Finance
Sponsors (0)
No sponsors listed
Other Sponsors (1)
Revenue (Joint)
Last Action
H:Died in Committee Returned Bill Pursuant to HR 5-4 (on 03/05/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://www.wyoleg.gov/Legislation/2024/HB0018 |
| BillText | https://www.wyoleg.gov/2024/Introduced/HB0018.pdf |
| Fiscal Note | https://www.wyoleg.gov/2024/Fiscal/HB0018.pdf |
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