The legislative process concluded with the Senate and the House of Representatives passing three critical bills before the deadline. Notably, during the third reading on Thursday, the House voted to approve Senate File 54, labeled the “Homeowner Tax Exemption,” which provides a 25% exemption on the fair market value of single-family residential structures up to $3 million.

Simultaneously, the Senate advanced HB 4, named the “Property Tax Refund Program,” which seeks to expand the existing Wyoming property tax refund program. This expansion involves amending qualifications to accommodate refunds for individuals with incomes reaching 165% of the state’s median gross household income. The bill introduces a sliding scale for refund calculations, ranging from 100% to 25% based on individual income levels.

Additionally, the Senate approved HB 45, addressing Wyoming property tax exemption for residential structures and land. Initially proposing a 5% cap on property taxes, the Senate, through amendments, revised this cap downward to 3%. This bill is slated for further review by a joint conference committee to reconcile differences and establish a consensus on the percentage cap.

Senator Bill Landen, representing Casper, expressed satisfaction following the Senate’s approval of the final two bills, emphasizing the anticipated impact on homeowners. Senator Bo Biteman, co-chair of the Joint Revenue Committee alongside Representative Steve Harshman of Casper, highlighted the collaborative nature of the effort, underscoring the joint commitment of both chambers during the 67th Legislative session.

Ashley Harpstreith, the executive director for the Wyoming Taxpayers Association, commended the coordinated efforts of committee chairs and lawmakers in navigating through the complexities of the proposed bills. Harpstreith expressed optimism that the passed bills would provide relief for many Wyoming homeowners. In acknowledging the effectiveness of the legislative session, Harpstreith affirmed that the comprehensive and targeted approach adopted by legislators would yield positive outcomes for the state’s taxpayers.