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Wyoming2026Did Not Pass

HB0073

Setting Fair Market Value for Residential Property Taxes

Last scannedAug 25, 2026, 2:25 AM

In one sentence

This act sets rules for determining the fair market value of residential property for tax purposes, including how to calculate this value and adjust it over time.

What it does

  • Defines 'fair market value' as what a well-informed buyer would pay and a seller would accept in an open market transaction without any pressure or compulsion.

Who it affects

  • Owners of residential real property who will have their property taxes calculated differently based on the new definitions and rules.

Limits and unknowns

  • The bill did not pass during its session and therefore has no legal effect.
  • Details about how specific adjustments will be made to base year values are left to future rulemaking by the Department of Revenue.

Plain language

Terms to know

Fair Market Value
The value of a property that an informed buyer would pay to an informed seller in an open market transaction without any pressure or compulsion.
Base Year Value
A fixed value used as the starting point for calculating property taxes, which is adjusted annually based on changes in property values and construction costs.

Official record

Sources

Validated

Public statements

Why lawmakers voted

Last checked Aug 2, 1:27 AM

Tony Locke

R · H35

Voted Yes

Why they voted this way

The lawmaker supports the bill as long-term reform to stabilize property taxes by using actual purchase prices and moving valuations back to a 2019 benchmark.

Public statementFloor statement at 2:43:49 Watch the statement

Lloyd Larsen

R · H54

Voted No

Why they voted this way

The lawmaker opposes the bill because clerks lack the software capacity to revert valuations to a 2019 level and finds the cost-adjusted base price method non-transparent.

Public statementFloor statement at 2:45:27 Watch the statement

Lee Filer

R · H44

Voted No

Why they voted this way

The lawmaker opposes the bill because provisions allowing transfers between family members without constituting a transfer create opportunities for fraud by selling property at nominal prices.

Public statementFloor statement at 2:46:28 Watch the statement

Jayme Lien

R · H38

Voted Yes

Why they voted this way

The lawmaker supports the bill as smart reform that stabilizes taxes based on actual purchase prices and protects families from unpredictable market swings.

Public statementFloor statement at 2:47:28 Watch the statement

If a lawmaker is not listed, we couldn't find a published reason.

Wyoming roll calls

Recorded votes

1 roll call

Official activity

Bill history

  1. H Failed Introduction 37-25-0-0-0House
  2. H Received for IntroductionHouse
  3. Bill Number AssignedLSO