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SF 153

Residential real property-taxable value.

2025 Regular Session Introduced by Eric Barlow and 10 co-sponsors

Reduces taxable value for owner-occupied residential property from 9.5% to 8.3% of fair market value starting in 2026; 2025 rate remains 9.5%.

S postponed indefinitely
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WeVote Research Nonpartisan
Bill Summary · SF 153

Summary — SF 153: Residential real property — taxable value

Status: Introduced January 29, 2025; S postponed indefinitely (committee/action history includes multiple amendments).
( bill as introduced in the Wyoming Legislature; several committee and floor amendments considered — see “Procedural / timeline” below )

Purpose / intent

SF 153 changes how “taxable value” is calculated and administered for residential real property. The bill defines “residential real property” and “owner‑occupied primary residence,” and specifies assessment (taxable‑value) rates applied to residential property classes. The intent is to distinguish owner‑occupied primary residences for a lower assessment rate beginning in a later tax year.

Key provisions

  • Definitions
    • “Owner occupied primary residence”: residential real property where the owner resides not less than six months of the applicable tax year.
    • “Residential real property”: a dwelling designed to house not more than four families; includes associated residential land (up to 35 acres as introduced) and commonly used dwelling types (single family, condominium unit, etc.).
  • Taxable value / assessment rates (as amended during floor/committee action)
    • For tax year 2025: residential real property (including owner‑occupied primary residences) taxed at 9.5% of fair market value.
    • For tax year 2026 and thereafter: residential real property remains taxed at 9.5% except owner‑occupied primary residences are taxed at 8.3% of fair market value (i.e., lower assessment rate for owner‑occupied homes beginning 2026).
  • Applicability and effective date
    • The bill states it first applies to the tax year beginning January 1, 2025 (as introduced), and contains language making the act effective immediately upon completion of the acts necessary for a bill to become law. Amendments clarified the staged effective rates (2025 vs. 2026) for owner‑occupied homes.
  • Conforming changes
    • Conforming edits to related statutory sections that define taxable value percentages and to property tax administration provisions.

Who is affected

  • Primary: residential property owners — especially owner‑occupants who would see a lower taxable‑value percentage beginning tax year 2026 under adopted amendments.
  • Local governments (counties, cities, towns), school districts and special districts: potential changes in property tax revenue and distribution formulas; several amendment proposals sought state appropriations to offset local revenue losses (see Procedural notes).
  • Department of Revenue: administration, rulemaking and implementation of new definitions/rates.

Fiscal impact

  • Legislative Service Office fiscal note: “No significant fiscal or personnel impact” (based on Department of Revenue information).
  • Several floor amendments proposing appropriations to compensate local governments (proposals ranged from ~$10.5M to $72M) were considered but not adopted in final floor action.

Procedural / timeline notes

  • Introduced Jan 29, 2025; referred to Revenue committee. Multiple committee and floor amendments were filed and debated (including changes to the taxable percentages, timing of rate changes, expanded/clarified definitions, and several appropriation proposals to offset local revenue).
  • The adopted committee/floor amendment sequence placed a transitional rate structure: 9.5% for 2025, with owner‑occupied residences reduced to 8.3% starting tax year 2026.
  • Several appropriation amendments to mitigate local fiscal impacts were proposed but failed. The file shows mixed procedural entries and at least one “S postponed indefinitely” action; status may reflect later procedural outcomes. Consult the legislature’s official bill tracking for current status and final enrollment.

If you want, I can produce a short one‑page explainer for homeowners (showing example tax calculations), or extract the precise statutory text changes and effective dates as adopted in the most recent amendment.

Compiled from official sources — confirm details with the bill’s official record.

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