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24LSO-0384
2024
STATE OF WYOMING
24LSO-0384
Numbered
2.0
HOUSE BILL NO. HB0211
Property tax-acquisition value.
Sponsored by: Representative(s) Jennings, Allemand, Bear, Haroldson, Heiner, Locke, Pendergraft, Slagle and Styvar and Senator(s) Biteman and Hutchings
A BILL
for
AN ACT relating to ad valorem taxation; establishing a rebuttable presumption in favor of acquisition value for specified real property; removing restrictions on the use, disclosure and confidentiality of sworn statements for specified real property; providing a definition; repealing an obsolete provision; requiring rulemaking; and providing for an effective date.
Be It Enacted by the Legislature of the State of Wyoming:
Section 1.
W.S. 34
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142(d), (e) and by creating a new subsection (j), 39
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101(a)(vi), (xvii)(intro) and (C), 39
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102(c)(xv) and (d)(i), 39
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102.1(c)(ii) and (iii), 39
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109(b)(iv), 39
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102(n), 39
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103(b)(ii), (iii)(intro), (C), (vi) through (viii) and by creating a new paragraph (xviii) and 39
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109(b)(i) are amended to read:
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142.
Instrument transferring title to real property; procedure; exceptions; confidentiality.
(d)
Except as provided in subsection (j) of this section, t
he sworn statements shall be used by the county assessors and the state board of equalization and the department of revenue along with other statements filed only as data in a collection of statistics which shall be used collectively in determining sales
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price ratios by county. An individual statement shall not, by itself, be used by the county assessor to adjust the assessed value of any individual property.
(e)
Except as provided in subsection (j) of this section, t
he statement is not a public record and shall be held confidential by the county clerk, county assessor, county board of equalization, the state board of equalization and the department of revenue. A statement may be disclosed pursuant to W.S. 39
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109(a)(i) to any person wishing to review or contest his property tax assessment or valuation. The statement shall not be subject to discovery in any other county or state proceeding.
(j)
Sworn statements regarding real property taxable under W.S. 39
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103(b)(iii)(C) shall be public records that are not subject to the use, disclosure and confidentiality provisions of this section. A person who discloses a sworn statement regarding real property taxable under W.S. 39
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103(b)(iii)(C) shall not be subject to criminal prosecution under W.S. 34
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144.
39
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101.
Definitions.
(a)
As used in this act unless otherwise specifically provided:
(vi)
"Fair market value" means the amount in cash, or terms reasonably equivalent to cash, a well informed buyer is justified in paying for a property and a well informed seller is justified in accepting, assuming neither party to the transaction is acting under undue compulsion, and assuming the property has been offered in the open market for a reasonable time, except, fair market value of agricultural land shall be determined as provided by W.S. 39
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103(b)(x)
, fair market value of real property under the all other property class shall be subject to the rebuttable presumption provided in W.S. 39
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103(b)(xviii)(A)
and fair market value of mine products shall be determined as provided by W.S. 39
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103(b), 39
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203(b), 39
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303(b), 39
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403(b), 39
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503(b), 39
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603(b) and 39
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703(b);
(xvii)
"Taxable value" means a percent of the fair market value
or other value required by law
of property in a particular class as follows:
(C)
All other property, real and personal, including property valued and assessed under W.S. 39
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102(m)(vi) and (ix), nine and one
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half percent (9.5%)
, provided that the value of real property shall be determined as provided in W.S. 39
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103(b)(xviii)
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102.
Administration; confidentiality; department of revenue.
(c)
In addition to the other powers and duties imposed by law, the department shall:
(xv)
Prescribe the system of establishing the fair market value
or other value required by law
of all property valued for property taxation to ensure that all property within a class is uniformly valued. The county assessor and the facilities of his office, together with the deputy assessors and clerical assistants in each county, at the direction of the department, shall give full aid in the installation of the prescribed system in the county. The county shall also furnish the necessary supplies and records for installing the system;
(d)
The following shall be adopted in accordance with the requirements and procedures of the Wyoming Administrative Procedure Act:
(i)
Adoption of any manual, formula, method or system to be used to determine the fair market value
or other value required by law
of property for tax purposes;
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102.1.
Administration; state board of equalization.
(c)
The state board of equalization shall perform the duties specified in article 15, section 10 of the Wyoming constitution and shall hear appeals from county boards of equalization and review final decisions of the department upon application of any interested person adversely affected, including boards of county commissioners for the purposes of this subsection, under the contested case procedures of the Wyoming Administrative Procedure Act. Upon request of a county board of equalization providing compelling reasons to do so, the state board of equalization may accept a case certified directly to the state board of equalization pursuant to rules adopted by the state board of equalization. The state board of equalization shall accept a case certified directly to the state board of equalization that involves property that may subject a county to tax liability as provided in W.S. 39
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102(c)(iv). The board shall also review final decisions of the department of transportation concerning the assessment or application of taxes authorized under this title upon application of any interested person adversely affected. Any interested person adversely affected by the adoption, amendment or repeal of a rule pursuant to W.S. 16
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103(a) shall be afforded an opportunity for a hearing before the board. In addition, the board shall:
(ii)
Prescribe the form for the abstract of the assessment roll, examine and compare the abstracts of the counties and equalize the same, so that all taxable property in the state is assessed at its fair market value, and to that end shall add to or deduct from the aggregate valuation of the property, or any class or classes of property, in any county such percent as will bring the same to its fair market value. When any assessed valuation is to be increased or decreased, the board shall provide not less than twenty (20) days notice of the proposed action to the county board of equalization and county assessor of the county in which the property is situated. If requested, the state board of equalization shall provide an opportunity for a hearing for the county board of equalization and assessor of the affected county. The hearing shall be held in the affected county. After a hearing, if requested, the county board of equalization shall take the necessary action to effectuate the action taken by the state board of equalization. The state board of equalization shall certify the valuation to be used for all tax levies on or before the first Monday in August. The board shall communicate its equalization actions to the department, along with any recommendations for improved work practices of county assessors
. This paragraph shall not apply to real property taxable under W.S. 39
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103(b)(iii)(C)
;
(iii)
When in the opinion of the board, it would be of assistance in equalizing values under paragraph (ii) of this subsection, the board may require any county assessor to furnish statements showing assessments of the property of any person within the county. The board shall consider and equalize county assessments under paragraph (ii) of this subsection and may increase or decrease assessments returned by the county board of equalization when the property so assessed appears to be over
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valued or under
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valued, first giving notice to those persons affected. The notice shall fix a time and place of hearing. Any affected person may appeal from the decision of the board to the district court of the county in which the property is situated
. This paragraph shall not apply to real property taxable under W.S. 39
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103(b)(iii)(C)
;
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109.
Taxpayer remedies.
(b)
Appeals.
The following shall apply:
(iv)
In any appeal to the board authorized by this section, the taxpayer may present any credible evidence, including expert opinion testimony, to rebut the presumption in favor of a valuation asserted by the department.
The rebuttable presumption in favor of a valuation asserted by the department shall not apply to the extent the rebuttable presumption conflicts with the rebuttable presumption in W.S. 39
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103(b)(xviii)(A).
The board shall make specific findings and conclusions as to the evidence presented.
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102.
Administration; confidentiality.
(n)
Following determination of the fair market value
or other value required by law
of property the department shall notify the taxpayer by mail or, if offered by the department and upon request of the taxpayer, by electronic transmission of the assessed value. The person assessed may file written objections to the assessment with the board within thirty (30) days of the date of postmark or the date of electronic transmission, whichever is earlier, and appear before the board at a time specified by the board. For purposes of this subsection, if a written objection is mailed or sent by electronic transmission by the person assessed, it shall be deemed timely filed if it is postmarked or transmitted not later than thirty (30) days after the mailing or electronic transmission of the notification of the assessed value. The person assessed shall also file a copy of the written objections with the county treasurer of the county in which the property is located, who shall notify the county assessor and the board of county commissioners, with an estimate of the tax amount under appeal based upon the previous year's tax levy.
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103.
Imposition.
(b)
Basis of tax.
The following shall apply:
(ii)
All taxable property shall be annually valued at its fair market value
or other value required by law
. Except as otherwise provided by law for specific property, the department shall prescribe by rule and regulation the appraisal methods and systems for determining fair market value using generally accepted appraisal standards;
(iii)
Beginning January 1, 1989,
"
T
axable value" means a percent of the fair market value
or other value required by law
of property in a particular class as follows:
(C)
All other property, real and personal, nine and one
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half percent (9.5%)
, provided that the value of real property shall be determined as provided in paragraph (xviii) of this subsection
.
(vi)
Each deputy county assessor upon completing the assessment of property within the district assigned to him shall immediately deliver all books, records, schedules and lists to the county assessor and make and subscribe the following oath: "I, ...., deputy assessor in and for district No. ...., county of ...., State of Wyoming, do solemnly swear (or affirm), that I have obtained from every person within the district, the lists and schedules required by law, and have received the lists and schedules according to law, from every person in the district; that I have carefully examined each of the lists and schedules, and have revised and corrected the lists when necessary; that I have to the best of my knowledge and ability valued the property in the lists and schedules at its fair market value
as
or other value
required by law; that in no case have I knowingly omitted to perform any duty required of me by law and have not, in any way, connived at any evasion or violation of any of the requirements of law in relation to the listing and valuation of property.";
(vii)
The county assessor shall enter in books furnished for that purpose, from the tax schedule, the enumeration and fair market value
or other value required by law
of all taxable property assessed by him or his deputies. The county assessor shall enter the names of persons against whom property is assessed in the county assessment roll in alphabetical order. On or before the fourth Monday in April, or as soon thereafter as is practicable, the county assessor shall send all assessment schedules to taxpayers by mail at their last known address or, if offered by the county and upon request of the taxpayer, by electronic transmission, and return the county assessment roll enumerating the property and value assessed by him or his deputies to the board of county commissioners together with a list stating the assessed value of taxable property within each school district, municipality or special district in the county;
(viii)
Every assessment schedule sent to a taxpayer shall contain the property's estimated fair market value
or other value required by law
for the current and previous year, or, productive value in the case of agricultural property. The schedule shall also contain the assessment ratio as provided by paragraph (b)(iii) of this section for the taxable property, the amount of taxes assessed on the taxable property from the previous year, and an estimate of the taxes which will be due and payable for the current year based on the previous year's mill levies. The schedule shall contain a statement of the process to contest assessments as prescribed by W.S. 39
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109(b)(i);
(xviii)
The following shall apply to the valuation of all other real property, except agricultural land, as made subject to taxation in subparagraph (iii)(C) of this subsection:
(A)
Beginning January 1, 2025, the base year value for real property shall be equal to the fair market value of the property on the date the property was most recently acquired, except there shall be a rebuttable presumption that the acquisition value of the property is the fair market value. The presumption may be rebutted by a preponderance of the evidence showing that a party to the transaction was acting under undue compulsion, that the terms of the transaction were not negotiated at arms length between a knowledgeable buyer and seller or that a party to the transaction claimed an exception under W.S. 34
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142(c). "Acquisition value," as used in this subparagraph, means the actual full amount paid or to be paid for the property. The department shall promulgate rules regarding the documentation and procedures required to establish acquisition value. If a person does not submit the required documentation to establish acquisition value within the time required by department rule, the base year value shall be equal to the fair market value of the property on the date that the property was most recently acquired;
(B)
The base year value shall be increased by an inflation factor that compounds annually each year beginning in the first year after the property was most recently acquired. The inflation factor shall be the lesser of three percent (3%) or the rate of the consumer price index or its successor index of the United States department of labor, bureau of labor statistics, for the applicable year;
(C)
The amount determined pursuant to subparagraphs (A) and (B) of this paragraph shall be the taxable value of the real property until ownership of the property is transferred to a new person. Each time property is transferred to a new person, the property shall be valued as provided in subparagraph (A) of this paragraph to determine the new base year value of the property. The new base year value of the property shall be subject to the inflation factor provided in subparagraph (B) of this paragraph in subsequent tax years.
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109.
Taxpayer remedies.
(b)
Appeals.
The following shall apply:
(i)
Any person wishing to contest an assessment of his property shall file not later than thirty (30) days after the date of the assessment schedule properly sent pursuant to W.S. 39
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103(b)(vii), a statement with the county assessor specifying the reasons why the assessment is incorrect. For purposes of this paragraph, if a statement of reasons is mailed or sent by electronic transmission by the person assessed, it shall be deemed timely filed if it is postmarked or transmitted not later than thirty (30) days after the mailing or the electronic transmission of the notification of the assessment schedule. The county assessor shall provide a copy to the county clerk as clerk of the county board of equalization. The county assessor and the person contesting the assessment, or his agent, shall disclose witnesses and exchange information, evidence and documents relevant to the appeal
, including sales information from relevant statements of consideration if requested,
no later than thirty (30) days prior to the scheduled county board of equalization hearing.
The assessor shall specifically identify the sales information used to determine market value of the property under appeal.
A county board of equalization may receive evidence relative to any assessment and may require the person assessed or his agent or attorney to appear before it, be examined and produce any documents relating to the assessment. The appeal may be dismissed if any person willfully neglects or refuses to attend a meeting of a county board of equalization and be examined or answer any material question upon the board's request. The state board of equalization shall adopt rules to be followed by any county board of equalization when conducting appeals under this subsection. All hearings shall be conducted in accordance with the rules adopted by the state board of equalization. Each hearing shall be recorded electronically or by a court reporter or a qualified stenographer or transcriptionist. The taxpayer may present any evidence that is relevant, material or not repetitious, including expert opinion testimony, to rebut the presumption in
favor of a valuation asserted by the county assessor
W.S. 39
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109(b)(iv)
. The county attorney or his designee may represent the county board or the assessor, but not both. The assessor may be represented by an attorney and the board may hire a hearing officer. All deliberations of the board shall be in public. The county board of equalization may affirm the assessor's valuation or find in favor of the taxpayer and remand the case back to the assessor. The board shall make specific written findings and conclusions as to the evidence presented not later than October 1 of each year;
Section 2.
W.S. 39
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109(a) is repealed.
Section 3.
The state board of equalization and the department of revenue shall promulgate all rules necessary to implement this act not later than January 1, 2025.
Section 4
.
This act is effective January 1, 2025.
(END)
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HB0211