In the 2023 session, legislators proposed 3 changes.
SJ3 is constitutional amendment that defines a new, fourth tax group. Voters will decide whether they support this idea on the 2024 Ballot. The idea is a compromise between protecting the budgets of smaller towns and reducing residential property tax rate for everyone. Liz Stoer (D-Teton) gets the credit for this bipartisan compromise.
HB 99, an expansion of the property tax refund for mid and lower income taxpayers. Rep Bitman (R-Ranchester) and others were quick to say the higher income earners shouldn’t be singled out. The new 125% rule means that the maximum income to qualify for a varies widely by county — for the state its $88,000, Albany Co is $66,000, Laramie Co is $85,000, Campbell Co is $114,000, and Teton Co is $129,000.
HB100 funds a study that would look at how acquisition value might play a role, perhaps replacing market value as the assessment base.
Governor Gordon signs 3 property tax bills — out of 20 submitted