Bill > SF0136

This bill introduces a homeowner property tax exemption in Wyoming that provides a 25% reduction on the fair market value of a single-family residential structure, up to $2 million. The exemption applies to various types of residential dwellings, including houses, modular homes, mobile homes, townhouses, and condominiums. County treasurers will be required to track and report the tax revenue reductions caused by this exemption, and the state department of revenue will compile and verify this information. To ensure local governments are not financially harmed, the bill includes an appropriation of $125 million from the general fund to reimburse government entities, including school districts, for lost tax revenues. The legislature has also included a provision that if the appropriated funds are insufficient, money will be transferred from the legislative stabilization reserve account. The homeowner tax exemption will first apply to the tax year beginning January 1, 2025, and will sunset on July 1, 2027, meaning it will not apply to tax year 2027 and beyond. Additionally, the total appropriation under this program cannot exceed $100 million, and if funds are insufficient to fully compensate all entities, distributions will be made on a pro-rata basis.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/SF0136