HB0328

Establishes an 8.3% taxable value rate for residential real property and defines key terms related to residential property tax assessment.

• Sets the taxable value for residential real property, including owner-occupied primary residences, at 8.3% of fair market value, and maintains the 9.5% rate for all other property. (W.S. 39-11-101(a)(xvii)(C), W.S. 39-13-103(b)(iii)(C))
• Defines 'owner occupied primary residence' as residential real property where the owner resides for at least six months of the applicable tax year. (W.S. 39-11-101(a)(xix))
• Defines 'residential real property' as real property improved by a dwelling designed for not more than four families, including associated residential land up to 35 acres, where the dwelling is a single family home, condominium unit, mobile home, or trailer used as a primary residence. (W.S. 39-11-101(a)(xx))

Effective: Upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution, with application to the tax year beginning January 1, 2025

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