Wyoming2026Did Not Pass
HB0118
Replacing Property Taxes with Sales Tax for Homes
Last scannedOct 22, 2026, 2:19 AM
In one sentence
This bill proposes to replace property taxes on homes by setting their taxable value at zero percent and introducing a new two percent sales tax, creating an account to fund local governments based on lost revenue from residential property taxation.
What it does
- Sets the taxable value of residential properties at zero percent of fair market value.
- Introduces a new two percent sales tax starting April 1, 2027, which will be administered as if the existing four percent rate was increased to six percent.
- Creates an account to hold money from this additional sales tax and distribute it to local governments based on lost property tax revenue from residential properties.
Who it affects
- Homeowners who no longer pay property taxes on their homes.
- Local governments that receive funding from the new account created by the bill.
- Industrial facility owners during construction periods, as they are exempt from some of the additional sales tax.
Limits and unknowns
- The bill will only take effect if voters approve a constitutional amendment in the 2026 general election.
- Details about how funds are distributed to local governments depend on future legislative decisions.
Plain language
Terms to know
- Taxable value
- The percentage of a property's fair market value used to calculate taxes. For homes, it would be zero percent under this bill.
- Sales and use tax
- A tax on the sale or purchase of goods and services that is collected by sellers from buyers.
Official record
Sources
Official activity
Bill history
- H Did not Consider for IntroductionHouse
- H Received for IntroductionHouse
- Bill Number AssignedLSO