Governor Gordon and Director Henson To Discuss Property Tax Relief In Wyoming

Becky Farrell/AARP Wyoming

After a Legislative Session that saw multiple property tax relief bills signed into law, AARP Wyoming’s TeleTown Hall on May 24 at 3 p.m. will help make sense of the changes.

AARP Wyoming will be joined on this call by Wyoming Governor Mark Gordon and Director of the Wyoming Department of Revenue, Brenda Henson. Governor Gordon will explain why he felt it important to support property tax relief, while Henson will explain how Wyoming citizens can utilize Wyoming’s property tax relief mechanisms.

AARP Wyoming will start to dial out to members and prospective call participants at around 2:45 p.m. on May 24. If you do not receive a call but would like to be a part of the phone call, dial 1-855-274-1448 or go to AARP Wyoming’s Facebook page at: facebook.com/AARPWY.

“Property tax relief has evolved in Wyoming over the last three years, and this call will allow our members to understand the reasons behind the changes, as well as specific methods for receiving property tax relief,” says AARP Associate State Director Tom Lacock.

About The Property Tax Changes
House Bill 45, sponsored by Buffalo Representative Barry Crago - Single Family Residential Structure Exemption Percentage will exempt more than a 4% increase of your home’s maximum assessed value year-over-year starting in 2024. In short, you will never pay more than 4% more in property taxes than last year unless the mill levy increases. Wyoming taxpayers need to do nothing to take advantage of this new law - your County Assessor will take care of it for you and note the change on the 2024 assessment schedule you receive in the mail. In tax year 2025, the 4% cap will also be applied to the improved associated residential land.

The exemption does not apply if the owner acquired the property during the prior calendar year, or the residential structure is new construction, or has added an addition to an existing structure.

House Bill 4 increased the amount of income you can make and still apply for the Property Tax Refund program. Now, you can make up to 145% of your county’s median income and still apply for a refund on your previous year’s property tax. This bill was sponsored by the Legislature’s Joint Revenue Committee.

For most folks, 145% of county median income means a household income of $107,184. However, Laramie ($110,258), Uinta ($111,998), Sweetwater ($116,745), Sublette ($130,558), Lincoln ($134,111), Converse ($115,478), Campbell ($136,199), and Teton Counties ($178,959) do have higher average income levels.

There are other restrictions on this program. Those applying cannot have more than $156,900 in assets per adult household member. This includes investments, bank accounts, and other real estate but excludes a car for each adult household member, your home, and any retirement accounts. You must have paid the 2023 property tax, been a Wyoming resident for five years, and lived in your Wyoming residence for at least nine months during 2023.

If your tax bill exceeds more than 10% of your total reported income, your asset limit does not apply.

This program requires an application through the Wyoming Department of Revenue (wptrs.wyo.gov) by the first Monday in June. Applications are also available at local county treasurer's offices.

House Bill 3, Known as 65 and 25 and sponsored by the Legislature’s Revenue Committee, will go into effect in 2025. This will cut the property tax cost in half for any Wyomingite (or their surviving spouse) age 65 and over who has paid Wyoming property taxes on residential property for 25 years or more. You don’t have to have lived in the same house for 25 years, but you do have to live in the home on which you are claiming the exemption for eight months that tax year.

This 50% exemption will apply to the residential structure, the residential land, and up to 35 acres associated with the home.

The law requires those who wish to take advantage of this program to submit a claim to their County Assessor by the fourth Monday in May, starting May 2025. The bill goes into effect on Jan. 1, 2025, and is repealed on July 1, 2027, so it is only good for two years. Those wishing to take advantage of the law will have to apply. Applications are not yet available.

House Bill 89 doubled the Veterans Property Exemption from $3,000 to $6,000 per veteran. This act will go into effect on Jan. 1, 2025, and was sponsored by Senator Ed Cooper, who represents parts of the Big Horn Basin.

Veterans interested in using this program must reside in the residence where they are asking for the exemption for more than six months of the year. Eligible veterans are honorably discharged veterans of World War I, World War II, Korea, Vietnam, or honorably discharged veterans who was awarded the armed services’ expeditionary medal, or other authorized service of campaign medal indicating services for the US in any armed conflict in the foreign country, or surviving spouses of qualifying veterans, certain disabled veterans may also be eligible for exemption.

To apply for the exemption, file a claim with your County Assessor by the fourth Monday in May. Keep in mind that this program is currently in effect for qualifying veterans at $3,000. The increase to $6,000 happens after Jan. 1, 2025.

For more information, contact Tom Lacock at 307-214-2071 or tlacock@aarp.org.