Wyoming2025Inactive
SF0161
Residential Property Value for Tax Purposes
Last scannedOct 23, 2026, 2:19 AM
In one sentence
This act establishes a new rule that when determining the fair market value of residential real estate, it will be based on the date the property was last acquired instead of its current market price.
What it does
- Establishes a rebuttable presumption in favor of acquisition value for specified real property.
- Requires county assessors to use sworn statements about property acquisitions for tax valuation purposes while keeping these statements confidential and only disclosing them under specific circumstances.
Who it affects
- Homeowners whose properties are being valued for tax purposes
- County assessors responsible for assessing property values
Limits and unknowns
- The bill did not pass and was marked as inactive, meaning it will not be considered further in this session.
- Details on how exactly residential real estate values will be determined based on acquisition dates are not fully explained in the provided text.
Plain language
Terms to know
- Fair market value
- The amount in cash, or terms reasonably equivalent to cash, a well-informed buyer is justified in paying for a property and a well-informed seller is justified in accepting.
- Sworn statement
- A written declaration made under oath about the acquisition of property for tax purposes.
Official record
Sources
Official activity
Bill history
- S:Died in Committee Returned Bill Pursuant to SR 5-4Senate
- S No report prior to CoW CutoffSenate
- S Introduced and Referred to S03 - RevenueSenate
- S Received for IntroductionSenate
- Bill Number AssignedLSO