SF0078

Establishes a lower taxable value assessment rate for residential real property and defines what constitutes residential real property for property tax purposes.

• Sets the taxable value for residential real property at 8.3% of fair market value, down from the rate for all other property which remains at 9.5%. (W.S. 39-11-101(a)(xvii)(C), W.S. 39-13-103(b)(iii)(C))
• Defines residential real property as real property improved by a dwelling designed to house no more than three families, including associated residential land owned by the dwelling owner, whether the residence is a single family home, condominium unit, or other type of residence used as a primary residence. (W.S. 39-11-101(a)(xix))
• Maintains the taxable value rate of 9.5% for all other real and personal property not classified as residential. (W.S. 39-11-101(a)(xvii)(D), W.S. 39-13-103(b)(iii)(D))

Effective: January 1, 2026

AI-generated summary · Verify against the official text (PDF) · Notice a problem? Let us know