Bill
# SF039
Long-term Homeowner Tax Exemption Sunset Repeal
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Summary
Bill Description
AN ACT relating to taxation; repealing the sunset date of the property tax exemption for long-term homeowners; and providing for an effective date.
Notes
This bill is a smart, forward-looking adjustment to Wyoming's property tax framework, solidifying a valuable exemption for long-term homeowners and demonstrating a commitment to supporting the state's aging population and stable communities. By repealing Section 2—the sunset clause that would have ended the exemption on July 1, 2027—it transforms a temporary relief measure into a permanent benefit, ensuring lasting financial security for qualifying residents. Enacted as part of Chapter 106 (originally HB0003), the underlying law exempts 50% of the assessed value of a primary residence for owners (or their spouses) aged 65 or older who have paid Wyoming property taxes for at least 25 years. This repeal enhances the program's impact without introducing new complexities, making it a win for fiscal responsibility and resident well-being.
The core exemption targets long-term homeowners, reducing their property tax bills by half on their primary residence. By eliminating the sunset, the bill prevents an abrupt end to this support, allowing seniors to plan their finances with confidence. In a state where property values can fluctuate due to energy markets and growth, this permanence shields vulnerable residents from rising costs, promoting aging in place and reducing reliance on other social services.
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