Residential property-uniformity of assessment.

WORKING DRAFT
2005
STATE OF WYOMING
05LSO-0401

HOUSE JOINT RESOLUTION
NO.
HJ0006

Residential property-uniformity of assessment.

Sponsored by:
Representative(s) Luthi, Davison, Gingery and Landon and Senator(s) Aullman, Burns, Cooper and Larson

A BILL

for

A JOINT RESOLUTION relating to taxation and revenue; making residential property an additional class of property for assessment of taxes; granting the legislature the ability to determine for residential property the total ad valorem tax, restrict increases in property taxes or assessments, create subclasses and set assessment rates on subclasses.

BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF WYOMING,
two-thirds of all the members of the two houses, voting separately, concurring therein:

Section 1.
The following proposal to amend Wyoming Constitution, Article 15, Section 11(a)(intro), (ii), by creating a new paragraph (iii), by renumbering (iii) as (iv), (c), (d) and by creating a new subsection (e) is proposed for submission to the electors of the State of Wyoming at the next general election for approval or rejection to become valid as a part of the Constitution if ratified by a majority of the electors at the election:

Article 15, Section 11.

Uniformity of assessment required.

(a)

All property, except as in this constitution otherwise provided, shall be uniformly valued at its full value as defined by the legislature, in
three (3)
four (4)
classes as follows:

(ii)

Property used for industrial purposes as defined by the legislature;
and

(iii)

Real and personal residential property as defined by the legislature; and

(iii)
(iv)

All other property, real and personal.

(c)

The legislature shall not create new classes or subclasses
, except as provided in subsection (e) of this section,
or authorize any property to be assessed at a rate other than the rates set for authorized classes.

(d)

All taxation shall be equal and uniform within each class of property
and within each subclass of property under subsection (e) of this section
. The legislature shall prescribe such regulations as shall secure a just valuation for taxation of all property, real and personal.

(e)

Notwithstanding other provisions of this section, for residential property the legislature may:

(i)

Determine the maximum amount of any ad valorem tax that can be collected;

(ii)

Prescribe restrictions upon the increase of the rate of taxation or assessment; and

(iii)

Create subclasses of residential property, and authorize those subclasses to be assessed at different rates.

Section 2.
That the Secretary of State shall endorse the following statement on the proposed amendment:
The adoption of this amendment would establish residential property as a separate class of property and for residential property allow the legislature to determine the maximum amount of property tax that can be collected; restrict increases on property taxes or assessments; create new subclasses of residential property and set any assessment rate.

(END)

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HJ0006