Bill > HB0282

This bill establishes a new framework for property tax assessments of residential real estate in Wyoming, focusing on creating a rebuttable presumption that the acquisition value (the price paid when purchasing a property) should be used as the base for property tax valuations. Beginning January 1, 2026, when residential property is acquired, there will be a presumption that the acquisition price represents the property's fair market value, with some important exceptions. For properties acquired before 2026, different base year values will apply, such as using the fair market value as of January 1, 2019, for properties acquired before December 31, 2019. The bill allows property owners to challenge the presumed acquisition value if they can demonstrate through a preponderance of evidence that the purchase price was not negotiated at arm's length or was influenced by undue circumstances. Additionally, the base year value will be adjusted annually by an inflation factor not exceeding 2% and can be increased to account for new construction or significant additions. The bill also clarifies confidentiality rules around property transfer documents and provides specific definitions for terms like "residential real property" and "acquisition value," while establishing rules for certain types of property transfers that would not trigger a new valuation, such as transfers between spouses or parents and children.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/HB0282