New Laws Offer Property Tax Relief for Wyoming Residents

Gov. Mark Gordon (R) recently signed four property tax relief measures.

The bills include:

• A 50 percent exemption for the primary residence of homeowners 65 and older who have paid property taxes for 25 years or more.
• An increase in eligibility for the state’s property tax refund program from 125 percent of the county’s median income to 145 percent.
• A doubling of the veterans tax exemption from $3,000 to $6,000 of assessed value.
• A 4 percent cap on year-to-year property tax increases on residential homes and land.

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The governor vetoed a fifth bill that would have created a homeowner tax exemption of 25 percent applied to the first $2 million of a home’s fair market value.