Bill > SF0069

This bill establishes a new homeowner property tax exemption in Wyoming that provides a 25% reduction on property taxes for single-family residential structures, with the exemption capped at the first $1 million of the property's fair market value. Starting in tax year 2026, homeowners must actually reside in the property for at least eight months of the year to qualify, with a special provision for active-duty military members who cannot meet the residency requirement due to their service. The exemption applies to various types of residential dwellings including houses, modular homes, mobile homes, townhouses, and condominiums, and will first be available for the tax year beginning January 1, 2025. Importantly, the bill allows taxpayers to still pay the full property tax amount if they choose, and explicitly states that homeowners cannot claim this exemption simultaneously with another existing tax exemption for the same property in the same tax year. The bill aims to provide meaningful property tax relief for homeowners while ensuring that the exemption is targeted and fairly applied.

Budget and Finance

Revenue (J)

https://www.wyoleg.gov/Legislation/2025/SF0069