Wyoming2025Did Not Pass

HB0290

Property Tax Reduction and Replacement Act

Last scannedOct 6, 2026, 2:19 AM

In one sentence

This act establishes a property tax exemption for single family residential properties while introducing an additional sales and use tax to fund local governments affected by the reduction in property tax revenue.

Establishes a property tax exemption of up to $200,000 for single-family residential properties in 2025, increasing annually based on inflation or 2%.
Introduces an additional sales and use tax starting July 1, 2025, with rates that may be adjusted by the governor if needed.
Provides exemptions to the additional sales and use tax for industrial facilities during construction phases.
Requires county treasurers to report exemptions granted under this act.

The bill did not pass during its session.
Details about how funds will be distributed to local governments are outlined but may change based on available revenue.
Specific rules for administering the property tax exemption must be created by the department of revenue.

Plain language

Property Tax Exemption: A reduction or elimination of the tax on certain types of property, in this case single-family homes.
Sales and Use Tax: Taxes charged on the sale and use of goods and services within a state.

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