Bill > HB0130

This bill establishes a new homeowner property tax exemption in Wyoming that will provide a 50% reduction on property taxes for single-family residential properties, limited to the first $200,000 of the property's fair market value. The exemption applies only to properties used as a primary residence, which is defined as a dwelling where the owner resides for at least eight months of the year, with a special provision for active-duty military members who may not meet the residency requirement. Eligible properties include houses, modular homes, mobile homes, townhouses, and condominiums. County treasurers will track the tax revenue reduction and report to the state department, which will then distribute funds to compensate local government entities for lost revenue. Homeowners must apply for the exemption using a form approved by the state department, and the exemption will be available for tax years beginning January 1, 2025, through tax year 2026. The legislature has appropriated $176 million from the general fund to reimburse government entities for revenue losses, with the funds allocated specifically for this purpose and set to revert to the general fund on June 30, 2027. This bill aims to provide tax relief for homeowners while ensuring that local governments are fully compensated for the reduced tax collections.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/HB0130