Title: Reduces Residential Property Taxes by 50 Percent on $1 Million Valuations
Vote to pass a bill that reduces residential property taxes by 50 percent on $1 million valuations in Wyoming.
Reduces residential property taxes by 50 percent on $1 million valuations in Wyoming (Sec. 1).
Specifies that these changes in legislation are expected to cost $395 million (Sec. 1).
Appropriates state funding to backfill around half the expected amount (Sec. 1).
Establishes that these reductions shall be offered beginning in the 2025-2026 tax years and shall be set to expire in 2027 (Sec. 1).
Specifies that the provisions of this bill shall become effective immediately upon passage and approval by the Governor (Sec. 5).
Title: Reduces Residential Property Taxes by 50 Percent on $1 Million Valuations