HB0130

Establishes a homeowner property tax exemption for primary residences in Wyoming effective for tax year 2025, with a sunset after tax year 2026, and appropriates $176 million to reimburse government entities for lost tax revenue.

• Creates a 50% property tax exemption on the first $200,000 of fair market value for single-family residential properties used as primary residences, with exemption applying only to tax years 2025 and 2026. (W.S. 39-11-105(a)(xlvi)(A), W.S. 39-11-105(a)(xlvi)(E))
• Defines 'primary residence' as a single-family dwelling where the claimant resides at least 8 months per year, with an exception for active duty military members whose domicile is the property. (W.S. 39-11-105(a)(xlvi)(B)(I))
• Defines 'single family residential property' to include houses, modular homes, mobile homes, townhouses, and privately owned condominiums. (W.S. 39-11-105(a)(xlvi)(B)(II))
• Requires county treasurers to maintain accurate records of tax revenue reductions from the exemption and report to the department for verification and distribution of compensation. (W.S. 39-11-105(a)(xlvi)(C))
• Requires applicants to provide information and complete forms as required by department rule, and allows the department to permit subsequent-year confirmations via telephone, mail, or other communication. (W.S. 39-11-105(a)(xlvi)(D))
• Requires county assessors to certify exemptions to the department by September 1, and requires the state treasurer to reimburse county treasurers for tax losses by October 1, with distribution to affected governmental entities. (W.S. 39-13-102(k))
• Repeals prior appropriations from 2022, 2023, and 2024 Wyoming Session Laws and reverts all unobligated funds from those repealed appropriations to the general fund. (Section 3(a), Section 3(c))
• Appropriates $176 million from the general fund to the department of revenue to reimburse government entities for tax revenue losses from the homeowner exemption for the period from the effective date through June 30, 2027, with unexpended funds reverting on that date.