A bill that would exempt 50 percent of the first million dollars from property tax assessment is headed for a third and decisive vote in the Wyoming House of Representatives.

You can read House Bill 169 here.

The exemption would only apply in tax years 2025 and 2026, expiring in 2027.

The bill is similar to one vetoed by Governor Mark Gordon after the 2024 legislative session.

The bill includes an appropriation of $225 million to backfill some of the revenues that would be lost because of the exemption. But even so some local governmental entities have expressed concerns that it would create hardships and might even force service cuts or cancellations.

A fiscal note attached to the bill estimates a total loss of revenues of $395 million if the bill becomes law, with the backfill making up for roughly half of that.

Bill Faces Third Reading In Wyoming House

The bill passed second reading in the Wyoming House on Wednesday, and would need approval on third reading to move forward. If that happens, it would go on to the Senate for a committee hearing and potentially three more readings on the floor of the Senate before going on to Governor Mark Gordon. Under Wyoming law the governor is prohibited from saying whether he will veto a bill being considered in the legislature.

House Bill 169 is sponsored by Rep. Tony Locke [R-Natrona County], with several co-sponsors.

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