FEBRUARY 10, 2025|
Photo – Property tax statement – Bigfoot99 file photo
A measure to reduce most Wyoming homeowners’ property taxes by 50% advanced through the legislature.
During Thursday’s legislative session in Cheyenne, Senate File 69, Homeowner Property Tax Exemption, passed the Wyoming House Appropriations Committee with a vote of six to one. Albany County Democrat Trey Sherwood was the lone dissenting vote.
With committee approval, the bill now heads to the full House.
Senate File 69 reduces taxes by 50% on all residential properties and their associated lands valued under $1 million. The goal of the bill is to reduce the burden on residents, many of whom have seen their property taxes nearly double since 2019.
Not everyone is happy about the legislation.
Here in Carbon County, the Board of Commissioners has expressed their disapproval of Senate File 69. Commissioners point to the fact that the legislation does not provide a way for counties around the state to recuperate lost property tax revenue.
Speaking at the county commissioners’ meeting on January 21, Commissioner Sue Jones explained that property tax revenue is used to support schools and local governments.
The board said county governments are set to lose more than $142 million in revenue over the next three years.
During Thursday’s Senate Appropriations Committee meeting, District 24 Senator Troy McKeown spoke in support of Senate File 69. Senator McKeown said the measure will have a minimal impact on most county budgets.
Senator McKeown acknowledged that the measure does not backfill counties for the lost property tax revenue.
Representative Jeremy Haroldson of Platte and Laramie Counties countered that counties will not lose 50% of their property tax income.
Senate File 69 targets residential properties and does not affect the collection of commercial property taxes.
Senator McKeown urged the committee to dismiss the notion that counties require increased property tax revenue to keep up with the cost of inflation. The senator said property taxes have outpaced inflation by roughly 40%.
Next, Wyoming Department of Revenue Director Brenda Henson explained that based on data from the 2024 tax season, the state will lose approximately $254.7 million annually due to Senate File 69. Director Henson also detailed the impact the bill will have on each entity that relies on property tax revenue.
If passed, Senate File 69 will end before the 2027 tax season. Department of Revenue Director Henson said the bill will result in roughly $509 million less in collected property taxes over those two years.
Representatives from the Wyoming County Commissioners Association, the Town of Pinedale, and Wyoming Community College Commission spoke out against Senate File 69, saying that the lost tax revenue will be detrimental to their associated institutions.
Afterwards, the Senate Appropriations Committee brought the measure up for a vote. Before voting, Representative Trey Sherwood informed the committee that she will be opposing Senate File 69.
Representative Sherwood explained that counties are better equipped to handle property tax relief than the state. The Minority Caucus Chairman from Laramie said the state has yet to see the full effects of other property tax relief measures, such as House Bill 45 and the Long-Term Homeowner Tax Exemption Program.
Representative Sherwood was the only member of the House Appropriations Committee to vote against the measure. The entire Wyoming State Senate will take the matter into consideration during a future session.
