Bill > SF0153

This bill clarifies and defines the property tax assessment rates for residential real property in Wyoming, specifically establishing that residential real property, including owner-occupied primary residences, will be taxed at 9.5% of their fair market value. The bill introduces two key definitions: an "owner-occupied primary residence" is defined as residential property where the owner resides for at least six months of the tax year, and "residential real property" is defined as a dwelling designed to house up to three families, including single-family homes, condominiums, and associated residential land owned by the dwelling's owner. The bill removes an outdated reference to a January 1, 1989 date and standardizes the language around property tax assessment rates. The changes will first apply to the tax year beginning January 1, 2025, and the act becomes effective immediately upon completing the legislative process as outlined in the Wyoming Constitution. This legislation aims to provide clarity and consistency in how residential properties are assessed for tax purposes in Wyoming.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/SF0153