Taxable value of industrial property.

2017
STATE OF WYOMING
17LSO-0350
Introduced
1.2

HOUSE BILL

NO.

HB0134

Taxable value of industrial property.

Sponsored by:
Representative(s) Clem, Biteman, Edwards, Hallinan, Henderson, Jennings, Lindholm and Winters and Senator(s) Boner and Driskill

A BILL

for

AN ACT relating to taxation and revenue; amending the taxable value of property used for industrial purposes; and providing for an effective date.

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

Section
1
.

W.S. 39
‑
11
‑
101
(
a
)(xvii)(B
)
and
39
‑
13
‑
103(b)(iii)(intro)
and (B)

are amended to read:

39
‑
11
‑
101
.

Definitions.

(a)

As used in this act unless otherwise specifically provided:

(xvii)

"Taxable value" means a percent of the fair market value of property in a particular class as follows:

(B)

Property used for industrial purposes, eleven and one
‑
half percent (11.5%)
, except as otherwise provided by W.S. 39
‑
13
‑
103(
b)(iii)(B)
;

39
‑
13
‑
103
.

Imposition.

(b)

Basis of tax. The following shall apply:

(iii)

Beginning January 1, 1989,
"
T
axable value" means a percent of the fair market value of property in a particular class as follows:

(B)

Property used for industrial purposes, eleven and one
‑
half percent (11.5%)
, provided that, for the purpose of economic incentive, property used for industrial purposes for the first three (3) years of use, five and
three
‑
quarters percent (5.75%), and for the fourth year of use, nine and one
‑
half percent (9.5%)
;

Section
2
.

The
property tax
ex
emption created by
this act
shall apply to property
that is first used for industrial purposes after the effective date of this act.

Section 3
.

This act is effective
July 1, 2017.

(END)

1
HB0134