Property tax relief-tax freeze.

WORKING DRAFT
2008
STATE OF
WYOMING
08LSO-0353

HOUSE JOINT RESOLUTION
NO.
HJ0009

Property tax relief-tax freeze.

Sponsored by:
Representative(s) Esquibel, K.

A BILL

for

A JOINT RESOLUTION proposing to amend the Wyoming Constitution by providing for a homeowner's property tax exemption.

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 by creating a new Section 21 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 21.

Homeowner's property tax exemption.

(a)

For property tax years commencing on or after January 1, 2010, any amount of fair market value of residential real property as defined by law that exceeds the fair market value of the residential real property as defined by law on:

(i)

January 1, 2010; or

(ii)

January 1 of the year in which the homeowner or homeowner's spouse reached sixty (60) years of age, whichever is later, shall be exempt from ad valorem taxation if:

(A)

As of the assessment date the real property is occupied as the primary residence by the homeowner as defined by law; and

(B)

The homeowner or the homeowner's spouse:

(I)

Is sixty (60) years of age or older on the assessment date;

(II)

Has owned and occupied the residential real property as his primary residence since January 1 of the year in which he reached sixty (60) years of age; and

(III)

Has made his primary residence in
Wyoming
for not less than the fifteen (15) years immediately preceding the assessment date of the year in
which the taxes are levied; or
the homeowner is the surviving spouse of a homeowner who previously qualified for a property tax exemption for that same residential real property under this subsection.

Section 2.

That the Secretary of State shall endorse the following statement on the proposed amendment:

The adoption of this section would grant property homeowners a property tax exemption based on the amount the fair market value of the residential real property in any year exceeds the value of the residential real property on January 1, 2010 or January 1 of the year in which the homeowner or the homeowner's spouse reaches sixty (60) years of age, whichever is later.

(END)

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HJ0009