Property tax-assessed valuation.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0498

HOUSE BILL
NO.
HB0189

Property tax-assessed valuation.

Sponsored by:
Representative(s) Shepperson and Senator(s) Dockstader

A BILL

for

AN ACT relating to
revenue and taxation; providing a limitation on the increase in assessed valuation for property tax purposes as specified; specifying applicability;
and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 39
‑
13
‑
103(b) by creating a new paragraph (xvii) is amended to read:

39
‑
13
‑
103.

Imposition.

(b)

Basis of tax. The following shall apply:

(xvii)

For property assessed under subparagraph (iii)(C) of this subsection, the assessed value for the property as of January 1, 2009 shall remain the same as the assessment for that same property on January 1, 2008. Following that date,
in no event shall the assessed valuation of any property assessed under subparagraph (iii)(C) of this subsection exceed
one hundred
two percent (
10
2%) of the assessed valuation of the same property from the immediately preceding calendar year.
The restriction in this paragraph shall no longer apply when the property is sold. At such time,
the newly assessed value shall be the sales price which
is the fair market value, or if
the sales price is not an accurate reflection of the fair market value as determined by the county assessor, the value shall be the appraised value of the property.

Section 2.

This act shall apply to property taxes
imposed
on or after January 1, 2009.

Section 3.

This act is effective immediately upon co
m
pletion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constit
u
tion.

(END)

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HB0189