HB0133 Property tax-holiday. | Wyoming Bill

Plain English Breakdown

The official source material does not provide details on how refunds will be processed if taxes were overpaid before the act was passed.

Property Tax Reduction Act

This act reduces property taxes in Wyoming for tax year 2024 and sets a sunset date.

What This Bill Does

Reduces property taxes by 16.67% for industrial properties used for specific purposes as defined in W.S. 39-11-101(a)(xvii)(B).

Reduces property taxes by 33.33% for all other types of property in Wyoming.

Sets a deadline for the tax reduction to end on June 30, 2025.

Who It Names or Affects

Property owners in Wyoming who pay property taxes.

The state of Wyoming's revenue from property taxes.

Terms To Know

Sunset date

A specific date when a law or program ends and is no longer in effect.

Industrial purposes

Activities related to manufacturing, processing, or other business operations that are considered industrial as defined by W.S. 39-11-101(a)(xvii)(B).

Limits and Unknowns

The bill only affects property taxes for the year 2024.

This bill is currently inactive and has been returned to committee.

Bill History

2024-03-05 House

H:Died in Committee Returned Bill Pursuant to HR 5-4

2024-02-23 House

H No report prior to CoW Cutoff

2024-02-16 House

H03 - Revenue:Do Pass Failed 3-6-0-0-0

2024-02-13 House

H Introduced and Referred to H03 - Revenue 45-16-1-0-0

2024-02-09 House

H Received for Introduction

2024-02-07 LSO

Bill Number Assigned

Current Bill Text

Read the full stored bill text

24LSO-0441
2024
STATE OF WYOMING
24LSO-0441
Numbered
2.0

HOUSE BILL NO. HB0133

Property tax-holiday.

Sponsored by: Representative(s) Locke, Allemand, Bear, Haroldson, Jennings, Pendergraft, Singh, Styvar and Ward and Senator(s) Ide

A BILL

for

AN ACT relating to property tax; providing a property tax reduction for tax year 2024; providing a sunset date; 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
‑
107(b)(i) by creating a new subparagraph (F) and 39
‑
13
‑
113 by creating a new subsection (h) are amended to read:

39
‑
13
‑
107.

Compliance; collection procedures.

(b)

The following provisions shall apply to the payment of taxes, distraint of property and deferral:

(i)

The following shall apply to the payment of taxes due:

(F)

For purposes of a tax holiday in tax year 2024, the amount of the tax due under this paragraph shall be reduced by sixteen and sixty
‑
seven hundredths percent (16.67%) for property used for industrial purposes as provided in W.S. 39
‑
11
‑
101(a)(xvii)(B) and thirty
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three and thirty
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three hundredths percent (33.33%) for all other property as provided in W.S. 39
‑
11
‑
101(a)(xvii)(C). This subparagraph is repealed on June 30, 2025.

39
‑
13
‑
113.

Monthly payment of ad valorem tax on gross product of mineral production.

(h)

For purposes of a tax holiday in tax year 2024, the amount of the tax due each month under subsection (b) of this section or due annually under subsection (d) of this section for production in calendar year 2024 shall be reduced by sixteen and sixty
‑
seven hundredths percent (16.67%). This subsection is repealed on June 30, 2025.

Section 2
.

To the extent that taxes on mineral production in calendar year 2024 are paid prior to the effective date of this act, the amount of taxes paid that would have been reduced under this act shall be reconciled as an overpayment of taxes as provided in W.S. 39
‑
13
‑
113(b).

Section 3
.

This act is effective immediately upon completion of all acts necessary for a bill to become law as provided by Article 4, Section 8 of the Wyoming Constitution.

(END)

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HB0133