Appropriations committee backs two-year, 50% homeowner exemption; revenue impact questioned by counties and colleges

Summary

Senate File 69, a two-year property tax relief measure that exempts 50% of fair market value of single-family residences (capped at $1 million) for owner-occupied homes, cleared the Appropriations Committee despite county, special-district and community college warnings about revenue losses and limited backfill.

The House Appropriations Committee recommended Senate File 69 do pass after an extended hearing that included fiscal estimates and testimony from county officials, municipal leaders, community college representatives and state revenue staff.

Senator Troy McEwen, sponsor of Senate File 69, described the bill as an owner-occupied residential exemption that would apply to 50% of fair market value up to $1,000,000, and would sunset in two years. “So basically just cuts the property tax in half,” McEwen said, describing the broad effect and noting the measure excludes renters and does not include a statutory backfill.

Director Brenda Henson of the Wyoming Department of Revenue told the committee the bill applies to single-family residential structures and associated residential land. Using 2024 values, Henson said an updated fiscal estimate puts the…

Appropriations committee backs two-year, 50% homeowner exemption; revenue impact questioned by counties and colleges

Summary

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