Senate, House leaders agree on 25% property tax cut

Yahoo

27-02-2025

CHEYENNE – Thursday morning, lawmakers in a joint conference committee signed an agreement to offer a 25% property tax cut to Wyoming homeowners.
The measure still has to pass both the Senate and House of Representatives, and be allowed to become law by Gov. Mark Gordon.
As of Thursday morning, Senate File 69, 'Homeowner property tax exemption,' includes a 25% property tax exemption starting in 2025 on residential structures and improved land up to $1 million of the fair market value. The exemption is not available if a homeowner receives a 50% long-term homeowner exemption passed in 2024, according to Rep. Tony Locke, R-Casper, who sat on the JCC.
Rep. Tony Locke, R-Casper (2025)
Rep. Tony Locke, R-Casper
Beginning in the second year, the exemption extends only to owner-occupied homes, with the consideration that it will also apply to deployed military members. The 25% cut would be ongoing, meaning the bill includes no sunset date.
'It has been clear from the very beginning that the people of Wyoming wanted property tax relief,' Sen. Tim Salazar, R-Riverton, said. 'This is about one of the most important issues in the Legislature, and I want to compliment the House because I know they also wanted property tax relief.'
Sen. Tim Salazar soaks in the moment
Sen. Tim Salazar, R-Riverton, soaks in a moment on the Senate floor Thursday during the 68th Wyoming Legislature's general session.
Salazar said that after negotiations on the bill stalled on Tuesday morning, leaders decided to move forward. Friday is the deadline to send bills to the governor in order to allow time for veto override votes, if necessary.
House Majority Floor Leader Rep. Scott Heiner, R-Green River, said the House Republican Caucus met on Wednesday to discuss SF 69.
Rep. Scott Heiner, R-Green River
Rep. Scott Heiner, R-Green River, works at his desk on the floor of the House of Representatives on Feb. 7.
'We also ran a bunch of numbers based on the proposal that was offered Tuesday. We would like to accept the Senate's position that was offered on Tuesday morning,' Heiner said.
He did request that the Senate agree to provide backfill for local governments in the bill, especially considering a Senate announcement Wednesday night that that chamber would not pass a supplemental budget at all.
'With the press release that came out last night that the supplemental budget will not be brought out for consideration, we would like to offer the (House) position on backfill be included in this bill,' Heiner said, adding that special districts, in particular, rely on property taxes and need the backfill.
Salazar responded that while the Senate appreciated the attempt, the body could not agree to a deal on SF 69 that included backfill.
'The Senate position is that backfill is not needed. We were at 50%, and now we are at 25%. We feel that at 25%, the (impact) is negligible,' Salazar said, noting that the supplemental budget is 'off the table and gone.'
Rather than let SF 69 die because of an inability to reach a deal, Heiner said the House would accept the Senate's position.
'This is something that provides immediate tax relief. It is important that we do something this year and not kick the can down the road,' Heiner said. 'So rather than lose the bill, we will withdraw that proposal and go with the Senate position.'
Salazar noted that the bill must still pass on the floor in both chambers. Locke said to expect it that vote today in the House.
If signed by the governor or allowed to become law without his signature, SF 69 would be 'effective immediately,' according to Locke.