Bill > HB0127

This bill establishes a property tax exemption for real property in the "all other property" class, except for agricultural land. The exemption amount is the assessed value of the property that exceeds the prior year's taxable value plus the lesser of the rate of change in the median household income for the county or 3%. For the 2024 tax year only, the prior year taxable value is determined based on the 2019 assessed value plus the same rate of change. The exemption does not apply if the property was acquired in the prior calendar year. The bill also requires the property tax assessment schedule to include an estimate of the taxes avoided due to this exemption. The exemption will first apply to the 2024 tax year.

Budget and Finance

https://www.wyoleg.gov/Legislation/2024/HB0127