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SF0136 • 2023

Property tax relief-assessment rate reduction.

AN ACT relating to taxation; decreasing the property tax assessment rate for the all other property class as specified; and providing for an effective date.

Budget Education Taxes
Did Not Pass

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

Sponsor
Senator Biteman
Last action
2023-02-27
Official status
inactive
Effective date
3/1/2023

Plain English Breakdown

The bill did not pass and was not enacted into law. Therefore, it does not have an effective date or any provisions that would be implemented.

Property Tax Relief Act

The bill aims to reduce the property tax assessment rate for 'all other property' class from 9.5% to 8.5% for calendar years 2023 through 2025.

What This Bill Does

  • Decreases the property tax assessment rate for the 'all other property' class from nine and one-half percent (9.5%) to eight and one-half percent (8.5%) for calendar years 2023, 2024, and 2025.
  • Specifies that this change applies to taxes assessed in calendar year 2023.

Who It Names or Affects

  • Property owners who are part of the 'all other property' class, including real and personal property.

Terms To Know

Taxable value
A percentage of a property's fair market value used to calculate property taxes.
Fair market value
The price at which an asset would trade in a competitive open market under normal conditions.

Limits and Unknowns

  • The bill did not pass and was not enacted into law.
  • It only applies to the 'all other property' class, excluding specific types of properties that may be taxed differently.
  • Details about how counties will be reimbursed for reduced tax revenue are unclear.

Amendments

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

SF0136HS001

Standing Committee • House Revenue Committee

Filed

Plain English: The amendment adds an appropriation of $253 million from the legislative stabilization reserve account to reimburse certain accounts and local governments for revenue losses due to a property tax assessment rate decrease.

  • Adds an appropriation of $253,000,000 from the legislative stabilization reserve account.
  • Specifies that 64.82% of the funds will go to the school foundation program account and 35.18% to the department of revenue for local government reimbursements.
  • Sets rules on how the funds must be used and when they revert if not spent.
  • The exact impact and distribution details are technical and may require further explanation beyond this summary.
SF0136S2001

2nd reading • Senator Driskill

Failed

Plain English: The amendment changes the property tax assessment rate for certain properties to a lower percentage in 2024 and 2025.

  • Changes the property tax assessment rate from 9.5% to a different percentage during calendar years 2024 and 2025.
  • Inserts specific language about the reduced assessment rate for two years into the bill.
  • The exact lower percentage for 2024 and 2025 is not specified in the amendment text, so it's unclear what the new rate will be.
  • It's not clear which properties are affected by this change beyond 'all other property class'.
SF0136S2002

2nd reading • Senator Biteman

Divided

Plain English: The amendment changes the property tax assessment rate for 'all other property class' from 7.5% to 8.5%, and specifies that this change applies only to taxes assessed in calendar year 2023.

  • Changes the property tax assessment rate for 'all other property class' from 7.5% to 8.5%
  • Adds a new section specifying that the act applies to the calculation of taxable value for 'all other property class' for taxes assessed in calendar year 2023
  • Updates the effective date of the act to April 1, 2023
  • The amendment does not specify how this change will affect taxpayers beyond the specified rate adjustment and application period.
SF0136S2002.01

2nd reading • Senator Biteman

Corrected, Adopted

Plain English: The amendment changes the property tax assessment rate from seven and one-half percent to eight and one-half percent for a specific property class.

  • Changes 'seven and one-half percent (7.5%)' to 'eight and one-half percent (8.5%)' in two places on page 2 of the bill.
  • The amendment only specifies changes for a particular property class, but does not provide details about which specific properties are affected or how this change will impact them.
SF0136S2002.02

2nd reading • Senator Biteman

Corrected, Adopted

Plain English: The amendment changes the timing of when a property tax assessment rate reduction for 'all other property class' will be applied and sets an effective date.

  • Adds a new section to specify that the act applies to the calculation of taxable value for the 'all other property class' for taxes assessed in calendar year 2023.
  • Changes the effective date from the original unspecified date to April 1, 2023.
  • The amendment does not provide details on what specific changes will be made to the assessment rate or how it will affect property taxes beyond setting an application year and effective date.
SF0136S2003

2nd reading • Senator Anderson

Failed

Plain English: The amendment adds provisions to reimburse counties for reduced property tax revenue due to a lower assessment rate, and allocates $84 million from the general fund for this purpose.

  • Adds new sections in the bill to allow property tax distributees to apply for reimbursement of lost tax revenue when the taxable value is set below 9.5%.
  • Inserts an appropriation of $84 million from the general fund to cover reimbursements to counties and other entities affected by reduced property tax revenue.
  • The amendment's effectiveness depends on sufficient funds being available, which may not be guaranteed.
SF0136S3001

3rd reading • Senator Driskill

Adopted

Plain English: The amendment changes the property tax assessment rate for certain properties to a lower percentage in specific years.

  • Inserts language that specifies a reduced property tax assessment rate of nine and one-half percent (9.5%) for all other property class, except for calendar years 2023, 2024, and 2025 when the rate will be lower.
  • The exact reduced percentage for the specified years is not provided in the amendment text.
  • It's unclear which specific properties are affected by this change beyond 'all other property class'.

Bill History

  1. 2023-02-27 House

    H COW:H Did not consider for COW

  2. 2023-02-27 House

    H Placed on General File

  3. 2023-02-27 House

    H02 - Appropriations:Do Pass 0-7-0-0-0

  4. 2023-02-24 House

    :Rerefer to H02 - Appropriations

  5. 2023-02-24 House

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

  6. 2023-02-16 House

    H Introduced and Referred to H03 - Revenue

  7. 2023-01-30 House

    H Received for Introduction

  8. 2023-01-30 Senate

    S 3rd Reading:S Bill Reconsideration Motion Failed by Roll Call 7-23-1-0-0

  9. 2023-01-30 Senate

    S 3rd Reading:Passed 18-12-1-0-0

  10. 2023-01-27 Senate

    S 2nd Reading:Passed

  11. 2023-01-26 Senate

    S 2nd Reading:Laid Back

  12. 2023-01-25 Senate

    S COW:Passed

  13. 2023-01-24 Senate

    S Placed on General File

  14. 2023-01-24 Senate

    S03 - Revenue:Recommend Do Pass 4-1-0-0-0

  15. 2023-01-20 Senate

    S Introduced and Referred to S03 - Revenue

  16. 2023-01-18 Senate

    S Received for Introduction

  17. 2023-01-18 LSO

    Bill Number Assigned

Current Bill Text

Read the full stored bill text 
23LSO-0620
2023
STATE OF WYOMING
23LSO-0620
ENGROSSED
3.0

SENATE FILE NO. SF0136

Property tax relief-assessment rate reduction.

Sponsored by: Senator(s) Biteman, Ide, Kinskey, McKeown, Salazar and Steinmetz and Representative(s) Bear, Byron and Jennings

A BILL

for

AN ACT relating to taxation; decreasing the property tax assessment rate for the all other property class as specified; 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)(C) and 39
‑
13
‑
103(b)(iii)(C) 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:

(C)

All other property, real and personal, including property valued and assessed under W.S. 39
‑
13
‑
102(m)(vi) and (ix), nine and one
‑
half percent (9.5%)
, except for calendar years 2023, 2024 and 2025 during which time the percent shall be eight and one
‑
half percent (8.5%)
.

39
‑
13
‑
103.

Imposition.

(b)

Basis of tax.

The following shall apply:

(iii)

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

(C)

All other property, real and personal, nine and one
‑
half percent (9.5%)
, except for calendar years 2023, 2024 and 2025 during which time the percent shall be

eight and one
‑
half percent (8.5%)
.

Section 2.

This act shall apply to the calculation of taxable value of the all other property class for taxes assessed in calendar year 2023.

Section 3
.

This act is effective April 1, 2023
.

(END)

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SF0136