summary
Introduced
02/15/2024
02/15/2024
In Committee
02/21/2024
02/21/2024
Crossed Over
Passed
Dead
02/23/2024
02/23/2024
Introduced Session
2024 Budget Session
Bill Summary
AN ACT relating to ad valorem taxation; establishing a property tax exemption for real property in the all other property class of property; requiring information related to the tax exemption to be included on the tax assessment schedule; providing rulemaking authority; specifying applicability; and providing for an effective date.
AI Summary
This bill establishes a property tax exemption for real property in the "all other property" class, excluding agricultural land. The exemption is based on the prior year's taxable value, plus the lesser of the rate of change in the county's median household income or 3%. For the 2024 tax year only, the prior year's taxable value is determined using the 2019 assessed value plus the applicable rate of change or 3%. The bill requires the property tax assessment schedule to include an estimate of the taxes that will be avoided under this exemption. The exemption first applies to the 2024 tax year and the bill is effective immediately.
Committee Categories
Budget and Finance, Justice
Sponsors (20)
Bill Allemand (R)*,
John Bear (R)*,
Bo Biteman (R)*,
Anthony Bouchard (R)*,
Tim French (R)*,
Scott Heiner (R)*,
Lynn Hutchings (R)*,
Bob Ide (R)*,
Chris Knapp (R)*,
John Kolb (R)*,
Dan Laursen (R)*,
Tony Locke (R)*,
Troy McKeown (R)*,
Chip Neiman (R)*,
Sarah Penn (R)*,
Rachel Rodriguez-Williams (R)*,
Cheri Steinmetz (R)*,
Tomi Strock (R)*,
Clarence Styvar (R)*,
Jeanette Ward (R)*,
Last Action
COW:S Did not consider for COW (on 02/23/2024)
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/SF0119 |
| BillText | https://www.wyoleg.gov/2024/Introduced/SF0119.pdf |
| Fiscal Note | https://www.wyoleg.gov/2024/Fiscal/SF0119.pdf |
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