Bill > HB0328

This bill modifies Wyoming's property tax assessment rates by defining and establishing a specific tax rate for residential real property, including owner-occupied primary residences. The bill sets the taxable value of residential real property at 8.3% of its fair market value, which is lower than the 9.5% rate applied to other types of property. The legislation defines "owner-occupied primary residence" as residential property where the owner resides for at least six months of the tax year, and "residential real property" as dwellings designed to house up to four families, including single-family homes, condominiums, mobile homes, and trailers, along with associated residential land up to 35 acres. These changes will first apply to the tax year beginning January 1, 2025, potentially providing tax relief for homeowners by reducing the assessed value of their residential properties. The bill aims to clarify and update existing tax law regarding property valuation and assessment rates.

Budget and Finance

https://www.wyoleg.gov/Legislation/2025/HB0328