Wyoming2025Inactive
SF0182
Property Tax Valuation Changes
Last scannedOct 10, 2026, 2:19 AM
In one sentence
This bill changes how property taxes are calculated by updating the definition of fair market value for certain types of property.
What it does
- Changes the way fair market value is determined for personal property and structures attached to land, using replacement cost new minus depreciation instead of other methods.
- Updates related laws to match these changes.
- Requires the Department of Revenue to create rules by January 1, 2026, to put these changes into practice.
Who it affects
- Property owners who have personal property or structures attached to land.
- The Department of Revenue and county assessors who will implement the new rules.
Limits and unknowns
- The bill does not provide details on how fair market values for agricultural land will be determined.
- It is unclear if all property types are covered by this change, as it only specifies personal property and structures attached to land.
- This bill was marked inactive in Wyoming, meaning it did not move forward in the current session.
Plain language
Terms to know
- Replacement cost new
- The current price needed to replace an item with a similar one, brand new.
- Depreciation
- A decrease in the value of something over time due to wear and tear or age.
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