Senate Revenue Committee approves amended homeowner property-tax exemption; Department of Revenue warns of system limits

Senate Revenue Committee members voted 3-2 to advance Senate File 69, a revenue-committee-sponsored bill that would exempt 25% of the fair market value of a single-family residential structure and its associated residential land up to $2,000,000 from property tax, with committee amendments changing the bill’s backfill and sunset provisions.

The exemption as drafted applies to the fair market value of the structure and associated residential land (not auxiliary structures such as barns or sheds) and was described by Department of Revenue staff as intended to cover 2025 property taxes payable in 2026. The bill follows Senate File 54 from the prior session, which applied only to the residential structure; SF69 expands that relief to associated residential land.

The Department of Revenue emphasized a technical hurdle. Brenda Henson, Wyoming Department of Revenue, told the committee, “Our computer assisted mass appraisal system currently is maxed out as to the number of percentage exemptions that they can calculate.” Ken Gill, administrator of…