Wyoming Gov. Mark Gordon has signed a bill into law that provides a 25% property tax exemption on the first $1 million of a single-family home’s fair market value.
Wyoming News reports the legislation, Senate File 69, takes effect immediately and does not have a sunset date. The bill has an owner-occupied requirement that begin during its second year in effect.
The bill went through different version while being crafted in the state legislature, with lawmakers at one point aiming for a 50% property tax cut. Some lawmakers unsuccessfully attempt to calculate property tax relief based on a five-year, county-by-county average increase.
“I have always supported tax accountability, and this bill provides tax relief without transferring the burden to our core energy industry,” said the Republican Gordon in a statement. “This act, coupled with the bills I signed last year, responds to the call for property tax relief. Now the practical impacts of this legislation will need to be navigated by our cities, counties, special districts and citizens.”
I love cutting taxes and encouraging home ownership, but it really should start with the budget. What expenses can they cut? How much money do they need? Collect only that and make it fair.
It is so great
To Brenda : it is usually over overbudgeted at the expanse of struggling homeowners.
Counties and city taxing authorities need DOGE i bet if they were audited our taxes would go down
Doge is not auditing, they’re demolishing. Auditing takes careful studying and planning. I am so talented that even I know how to demolish. Besides, it’s easy to do for Musk, as he’ll never feel the pain of any of the cuts.
The raise in taxes in just the last two years is probably more than a 25% cut. I doubt it is going to help much. At this point anything will help but a 50% cut would have been so much better. I am against property tax and feel it should be more like a 1% tax on purchases. Renters use all the same, roads, schools, etc. I don’t think the property owners should have to foot all the bills.
Many other states use a combination of property taxes and sales taxes. That is mostly because renters and/or people with lower incomes get a disproportionate hit. E.g., this is like if someone makes $24000 a year and you make $240000 a year, paying for groceries on a 7% sales tax (my own state) is starkly different between you and the other person. It’s 2.8% of the other person’s income, but only 0.28% of your income.
This is just a simplistic analogy, a lot of other factors aren’t included here, but you get the idea.
So, my opinion is that you would really need a balance between sales taxes, property taxes, and any other taxes that affect you as a citizen.
For a few other responses regarding cutting spending and changing taxes, I can state that NOBODY would be happy with any taxing amount and nobody will agree. So I focus on what is spent/budgeted.
If people don’t want to pay property tax, just eliminate it. Most people would find a way to make due without city and county services. Public schools can be replaced by private schools. Fire and police service are overrated and a burden on our tax dollars. If people need help, they have friends, family and neighbors. And why pay for garbage service when you can take your trash to the landfill yourself?
In our county, the garbage is a separate bill, in addition to the property tax. It’s added to your tax bill but it’s IN ADDITION to the tax bill. I’m in Florida
Hey Chey, don’t forget all those tax dollars that the county wastes maintaining roads, sewage treatment, the County jail, voter registration, the coroner, the the attorney’s office, the judges, the auditor’s records of property. We citizens can easily handle those things ourselves, We have outhouses! and who needs roads anyway? A well-armed citizenry is perfectly capable of settling differences among neighbors, although no doubt the settling would result in a markedly reduced county population in short order.
I live in a village, we ae taxed three (3) times on the same property at different rates.Our school taxes are too high, village portion is too high. Then there are P.I.L.O.T, payment in lieu of taxes. This benefits businesses, apartment owners, while residential owners subsidize the above. Village tax payers should receive a 50% reduction, especially seniors.
It’s a start – but if it were up to me, the fairest tax would be a consumption tax. Anything anyone buys, big or small (exemptions for food & medication) would be taxed instead.
No income tax. Property tax only when it’s purchased.
That way, if you buy a yacht, you’re taxed. If you buy a pencil, it’s taxed. Same rate.
Wouldn’t that be the most fair?
Cities and counties pay for have to projects and want to projects. Have to: need: sewer, water, some provide electricity other have tos: law enforcement, fire departments, all funded with legal contracts with unions generally. The “want tos: are libraries, parks, sidewalks, roads. All depends on how well you want to take care of your community…or not.