Property tax-assessed value.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0442.E1

HOUSE BILL
NO.
HB0234

Property tax-assessed value.

Sponsored by:
Representative(s) Patton, Cohee, Mercer and Roscoe and Senator(s) Bebout and Case

A BILL

for

AN ACT relating to
taxation and revenue; providing a limitation on the assessed valuation of certain property for ad valorem taxation as specified;

providing applicability;
providing appropriation
s
;
and providing for an effective date.

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

Section 1.

W.S.
39
‑
11
‑
105(a) by creating a new paragraph (xxxviii) and
39
‑
1
3
‑
10
3
(
b) by creating a new paragraph (xvii)

are
amended to read:

39
‑
11
‑
105.

Exemptions.

(a)

The following property is exempt from property taxation:

(xxxviii)

Any amount of assessed valuation exceeding the average
of the
assessed valuation for that same property for
the current year and
the
immediately preceding

two (2
) calendar years as provided by W.S. 39
‑
13
‑
103(b)(xvii).

39
‑
1
3
‑
10
3
.

Imposition
.

(b
)

Basis of tax. The following shall apply:

(xvii)

For any property which has not been substantially improved
since the most recent on-site inspection,
a
ny amount
of
assessed valuation of any property
assessed under subparagraph (iii)(C) of this subsection
in excess of the average assessed valuation for that same property
as provided by W.S. 39
‑
11
‑
105(a)(xxxviii) shall be considered
an exemption from property tax.
In the event the assessed valuation for the
two (2
)
calendar years immediately preceding the year for which the assessed valuation is being imposed is not available, or the years available are less than
two (2
) calendar years immediately preceding the year for which the assessed valuation is being imposed, then the
exemption under this paragraph shall not apply
.

Section 2.

This act shall apply to property taxes imposed on or after January 1, 20
10
.

Section 3.

(a)

There is appropriated from the general fund to the state treasurer twenty-three million eight hundred forty thousand dollars ($23,840,000.00), or so much thereof as necessary, for the purposes of this act. The purpose of this appropriation is to reimburse local governments for any loss in property tax revenue under this act for property taxes levied and assessed in calendar year 2010, except for any mills levied under W.S. 39
‑
13
‑
104(a)(iv).

(b)

There is appropriated from the general fund to the department of revenue one hundred thousand dollars ($100,000.00), or so much thereof as necessary, to implement the purposes of this act.

(c)

Funds appropriated under this section shall not lapse or revert until June 30, 2011.

Section
4
.

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)

1
HB0234