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Lawmakers pitch several property-tax reforms including vehicle-tax overhaul and base-year assessments
Summary
At a joint revenue interim meeting, legislators and witnesses proposed multiple property-tax reforms — from treating motor vehicles like real property to adopting base-year assessments and a possible transfer/‘sales’ tax on real-estate sales — and heard a departmental cost estimate for one option.
Lawmakers at a joint interim meeting on March 7 outlined several proposals aimed at easing or reshaping property-tax burdens in Wyoming, including a motor-vehicle property tax change, a base-year assessment model and a proposed real-estate transfer tax.
Dan Noble, a former director of the Department of Revenue testifying as a private citizen, described a plan to tax noncommercial vehicles like real property — applying a depreciated fair-market value, the residential assessment ratio and local mill levies — and said an initial department estimate put the program’s fiscal cost at roughly $120,000,000. "It's extremely expensive," Noble said, offering a spreadsheet modeling…
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