WYOMING — Governor Mark Gordon will discuss recent updates to property tax relief policies at AARP Wyoming’s virtual town hall meeting on Friday, May 24, AARP announced this week.
Gordon will be joined by Director of the Wyoming Department of Revenue Brenda Henson. The two will shed light on the latest property tax relief bill, discussing why Gordon made the bill a priority in the last legislative session, and explaining how Wyomingites can make use of the state’s property tax relief options.
“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,” AARP Associate State Director Tom Lacock said in the announcement.
In March, Gordon signed HB0003 – “Property tax exemption for long-term homeowners,” HB0045 – “Property tax exemption-residential structures and land” and SF0089 – “Veterans ad valorem exemption-amount.”
With the approval of House Bill 3, primary residence homeowners (or their spouses) who are age 65 or over and have paid Wyoming property taxes for 25 years or more are eligible for an exemption of 50% of a property’s value. It will go into effect Jan. 1, 2025, and last until July of 2027.
House Bill 45 imposes a 4% cap on year-to-year property tax increases for residential buildings and parcels, effective immediately.
Senate File 89 will increase an existing veterans tax exemption from $3,000 to $6,000 of assessed value, and allocates $8.2 million to the state treasurer to provide reimbursements to county treasurers.
Gordon also signed HB0004 – “Property tax refund program,” but vetoed one line item in the bill, abolishing the highest income bracket for the program. He explained in his announcement that the allocated $20 million would be “insufficient” to fund the program with the highest income category included.
AARP Wyoming’s TeleTown Hall will be held on Friday, May 24 at 3 p.m. Call (855) 274-1448 or visit AARP Wyoming’s Facebook page to participate. For more information, contact Tom Lacock at (307) 214-2071 or tlacock@aarp.org.
