House Bill 189

2009

STATE OF WYOMING

09LSO-0498

HB0189 HOUSE BILL NO. HB0189

Property tax-assessed valuation.

Sponsored by: Representative(s) Shepperson and Senator(s) Dockstader

A BILL

for

1 AN ACT relating to revenue and taxation; providing a

2 limitation on the increase in assessed valuation for

3 property tax purposes as specified; specifying

4 applicability; and providing for an effective date.

5

6 Be It Enacted by the Legislature of the State of Wyoming:

7

8 Section 1. W.S. 39-13-103(b) by creating a new

9 paragraph (xvii) is amended to read:

10

11

39-13-103. Imposition.

12

13

(b) Basis of tax. The following shall apply:

14

15 (xvii) For property assessed under subparagraph

16 (iii)(C) of this subsection, the assessed value for the property as of January 1, 2009 shall remain the same as the

2 assessment for that same property on January 1, 2008.

3 Following that date, in no event shall the assessed

4 valuation of any property assessed under subparagraph

5 (iii)(C) of this subsection exceed one hundred two percent

6 (102%) of the assessed valuation of the same property from

7 the immediately preceding calendar year. The restriction

8 in this paragraph shall no longer apply when the property

9 is sold. At such time, the newly assessed value shall be

10 the sales price which is the fair market value, or if the

11 sales price is not an accurate reflection of the fair

12 market value as determined by the county assessor, the

13 value shall be the appraised value of the property.

14

15 Section 2. This act shall apply to property taxes

16 imposed on or after January 1, 2009.

17

18 Section 3. This act is effective immediately upon

19 completion of all acts necessary for a bill to become law

20 as provided by Article 4, Section 8 of the Wyoming

21 Constitution.

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23

(END)

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