Committee hears House Bill 169 to exempt 50% of residential value for 2025–26; implementation, backfill and system limits draw scrutiny

CHEYENNE — Lawmakers in the House Revenue Committee heard lengthy testimony on House Bill 169, a proposal to provide short‑term property tax relief by exempting 50% of fair market value for residential structures (capped at the first $1 million) for tax years 2025 and 2026 and to use state appropriations to partially reimburse affected local taxing entities.

Representative John Locke (chairing the bill presentation) described the measure as a short‑term relief step while the legislature considers longer‑term property tax reform. "The intent of the bill was to allow us to get money into the hands of the residential property owners," he said, noting the bill does not limit the exemption to owner‑occupied homes and was drafted to speed implementation.

The bill would apply the 50% exemption to the fair market value of residential structures (defined in the bill to include single‑family homes, modular homes, mobile homes, townhomes or condominiums that are privately owned and intended for human habitation) and then instruct the Department of Revenue to distribute partial backfill to county treasurers. The sponsor included two appropriations totaling $225 million in the bill text: $100 million from the Legislative Stabilization Reserve Account and $125 million from the General Fund…