Discussing the Effects of Property Tax Reduction Prior to the 2026 Legislative Meeting
In a bid to address the property tax concerns of Wyoming residents, especially those aged 65 and above, a meeting is scheduled to take place on September 18, hosted by AARP Wyoming's Government Relations Team (GRT). This event, which will commence at noon, will be open to all, regardless of AARP membership or age.
The meeting, to be held both in-person at AARP Wyoming's State Office in Cheyenne and via Zoom, aims to provide an overview of major property tax relief programs available to property owners in Wyoming. Hank Hoversland of the Wyoming Taxpayers Association will present data on property tax relief efforts, usage, and financial impacts.
One of the key topics to be discussed is the Property Tax Exemption for Long-Term Homeowners program. This program offers a 50% property tax reduction in 2025 and 2026 for those aged 65 and over who have paid residential property tax in Wyoming for 25 years or more. For those who do not meet the age or payment duration criteria, Senate File 69 provides a 25% property tax break for the first $1 million of a home's value.
Senate File 69, signed into law this spring, offers property tax relief for those who do not meet the Long-Term Homeowners Exemption criteria, but may benefit if the program sunsets or goes away. The Senate was able to amend House Bill 279 to include the $10.5 million for the Property Tax Refund program, which was initially not included in the budget due to the Senate not passing a budget.
The Property Tax Refund Program received an appropriation of $20 million last year, but $14.3 million has already been used this year, leaving $5.7 million for the remainder of 2021.
Other participants involved in the discussion about income tax exemption in Wyoming include Jerimiah Rieman, head of the Wyoming County Commissioners Association, who will discuss impacts of changes to property tax collections and future service delivery in the counties, and Ashley Harpstreith, who will discuss the perspective of Wyoming's cities and towns.
The Wyoming Legislature's Joint Revenue Committee will also discuss proposals being considered during their November meeting in Cheyenne. The committee has several other property tax measures to consider, including public comment on the issue.
By statute, 68% of property tax revenue goes to education in Wyoming, 18% to county governments, and the rest to cities and towns, as well as entities such as community college districts, senior services districts, and other special districts.
Registration for the Zoom meeting can be done by clicking a provided link (security code 073814 if prompted). For those who prefer an in-person experience, the meeting will be held at AARP Wyoming's State Office in Cheyenne.
For more details on the bills to be voted on in November, click the provided link. This meeting promises to be a valuable source of information for property owners in Wyoming seeking to understand and benefit from the various property tax relief programs available.
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