Wyoming Governor Signs Law Creating Property Tax Exemption for Residential Structures, Land

The Wyoming Governor March 21 signed a law creating a property tax exemption for residential structures and land. The law includes measures: 1) establishing the tax exemption for single family residential structures applicable to any increase in assessed value exceeding four percent over the prior year valuation, effective Jan. 1; 2) establishing the tax exemption for land associated with a single family residential structure, which is equal to any increase in assessed value exceeding four percent over the prior year valuation, effective Jan. 1, 2025; 3) defining terms such as “single family residential structure” and “improved land associated with a ...