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
Potential new amendment
2024 Budget Session
Bill Summary
AN ACT relating to taxation; establishing a homeowner's property tax exemption for primary residences; providing a penalty for false claims; providing a conforming appropriation from the legislative stabilization account; providing for rulemaking; specifying applicability; and providing for an effective date.
AI Summary
This bill establishes a homeowner's property tax exemption for primary residences in Wyoming. It allows for up to $300,000 of the total fair market value of a primary residence to be exempt from property taxes, with certain eligibility requirements such as being a Wyoming resident for at least 5 years and residing in the primary residence for at least 9 months of the previous tax year. The bill also outlines the process for claiming and maintaining the exemption, including the submission of a sworn claim to the county assessor and annual confirmation. It provides for a penalty for false claims and a mechanism for the state to reimburse counties for the lost tax revenue. The bill specifies that it will take effect on January 1, 2025.
Committee Categories
Budget and Finance, Justice
Sponsors (9)
Ocean Andrew (R)*,
Abby Angelos (R)*,
Fred Baldwin (R)*,
Barry Crago (R)*,
Bob Davis (R)*,
Dan Dockstader (R)*,
Scott Heiner (R)*,
Lynn Hutchings (R)*,
Dave Kinskey (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/SF0121 |
| Senate Judiciary Committee | https://wyoleg.gov/2024/Amends/SF0121SS001.pdf |
| BillText | https://www.wyoleg.gov/2024/Introduced/SF0121.pdf |
| Fiscal Note | https://www.wyoleg.gov/2024/Fiscal/SF0121.pdf |
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