WyomingWyoming would calculate qualifying homes' taxable value at 8.3% of market value
If enacted, Wyoming would use 8.3% of market value to calculate taxable value for homes built for up to three families, starting with the 2027 tax year.
What it does
Starting with the 2027 tax year, Wyoming would count 8.3% of a qualifying home's market value as the value used to calculate property taxes. The home must be a residence built for up to three families.
Argument forEligible homeowners could have a smaller share of their property's value counted for tax than owners of other property: 8.3% instead of 9.5%.
Argument againstOwners of buildings designed for four or more families could face the 9.5% calculation for other property because those buildings fall outside the 8.3% category.
More detail
Wyoming would calculate taxable value for qualifying homes as 8.3% of their market value. The rule covers homes built for up to three families, including condo units, and the land where a home sits if its owner also owns the land. The dwelling must be used as a residence. If enacted, the rule would take effect when the bill becomes law and first apply to the tax year beginning January 1, 2027.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
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History
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Taxes & BudgetHousing