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HJ0002 • 2023

Constitutional amendment-residential property class.

A JOINT RESOLUTION providing for the assessment of residential real property as a separate property class for the purpose of taxation and authorizing subclasses related to residential real property.

Taxes
Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor
Representative Sommers
Last action
2023-02-08
Official status
inactive
Effective date
3/1/2023

Plain English Breakdown

The official source material does not provide detailed information about the specific impacts of subclasses or how they would affect property taxes for different types of residential properties.

Separate Property Class for Residential Real Estate

This resolution proposes to amend the Wyoming Constitution by creating a separate tax class for residential real estate and allowing subclasses within this category.

What This Bill Does

  • Proposes an amendment to the Wyoming Constitution to create a new property tax class specifically for residential real estate.
  • Allows the legislature to establish subclasses of residential real estate, including one for owner-occupied primary residences.

Who It Names or Affects

  • Residents who own residential real estate in Wyoming.
  • The state legislature, which would have the authority to create subclasses for residential property tax purposes.

Terms To Know

Property class
A category of property that is taxed at a specific rate or valuation method.
Subclass
A smaller group within a larger property tax class, with its own specific rules for assessment and taxation.

Limits and Unknowns

  • The resolution did not pass in the session it was introduced.
  • It is unclear how creating subclasses would affect property taxes for different types of residential properties.
  • The amendment needs approval from a majority of Wyoming voters to become part of the state constitution.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

HJ0002H3001

3rd reading • Representative Locke

Corrected, Failed

Plain English: The amendment adds language to specify how residential real property can be valued and limits its annual valuation increases.

  • Adds text on page 1, line 3 to include specifying the valuation of residential real property for taxation purposes.
  • Inserts new text on page 3, line 3 allowing residential real property to be valued at less than full value with a maximum annual increase set by the legislature.
  • Includes additional language on page 4, line 6 to allow the legislature to limit the valuation of residential real property through a cap on annual increases.
  • The exact methods and limits for valuing and increasing the value of residential real property are not detailed in this amendment text.
HJ0002HS001

Standing Committee • House Revenue Committee

Adopted

Plain English: The amendment changes the bill to specify that residential real property will be taxed separately and sets limits on how much higher or lower its tax rate can be compared to other properties.

  • Removes language after 'taxation' in line 3 of page 1.
  • Adds new text after 'for' in line 6 of page 3, specifying that the residential real property tax rate cannot be more than 40% higher or 4 percentage points lower than other properties.
  • Deletes lines referring to 'residences' and related terms on pages 3 and 4.
  • The exact impact of removing certain lines is not fully explained in the amendment text, making it unclear how these changes will affect the overall bill.

Bill History

  1. 2023-02-08 House

    H 3rd Reading:Failed 37-25-0-0-0

  2. 2023-02-07 House

    H 2nd Reading:Passed

  3. 2023-02-06 House

    H COW:Passed

  4. 2023-02-02 House

    H Placed on General File

  5. 2023-02-02 House

    H03 - Revenue:Recommend Amend and Do Pass 6-3-0-0-0

  6. 2023-01-17 House

    H Introduced and Referred to H03 - Revenue

  7. 2023-01-10 House

    H Received for Introduction

  8. 2023-01-09 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
23LSO-0037
2023
STATE OF WYOMING
23LSO-0037
Numbered
2.0

House Joint Resolution NO. HJ0002

Constitutional amendment-residential property class.

Sponsored by: Representative(s) Sommers, Crago, Harshman and Northrup and Senator(s) Pappas

A JOINT RESOLUTION

for

A JOINT RESOLUTION providing for the assessment of residential real property as a separate property class for the purpose of taxation and authorizing subclasses related to residential real property.

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 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:

(i)

Gross production of minerals and mine products in lieu of taxes on the land where produced;

(ii)

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

(iii)

Residential real property; and

(iv)

All other property, real and personal.

(b)

The legislature shall prescribe the percentage of value which shall be assessed within each designated class. All taxable property shall be valued at its full value as defined by the legislature except agricultural and grazing lands which shall be valued according to the capability of the land to produce agricultural products under normal conditions. The percentage of value prescribed for industrial property shall not be more than forty percent (40%) higher nor more than four (4) percentage points more than the percentage prescribed for property other than minerals.

(c)

Except as provided in this subsection t
he legislature shall not create new classes or subclasses or authorize any property to be assessed at a rate other than the rates set for authorized classes.
The legislature may create a subclass of residential real property for owner occupied primary residences and other subclasses of residential real property as the legislature determines necessary for a just valuation of property.

(d)

All taxation shall be equal and uniform within each class
and subclass
of property.

The legislature shall prescribe such regulations as shall secure a just valuation for taxation of all property, real and personal.

Section 2.

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

The adoption of this amendment would separate residential real property into its own class of property for purposes of property tax assessments. The amendment would authorize the legislature to create a subclass of owner occupied primary residences and other subclasses of residential real property as it determines necessary for a just valuation of property.

(END)

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