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Governor Gordon Signs Bills Expanding and Extending Property Tax Relief
Published
8 months agoon
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News Release
Reflecting his call for fair and equitable property tax relief made in his State of the State speech, Governor Mark Gordon signed several bills Friday that will reduce property taxes to those Wyoming residents who need it most.
The Governor signed HB0003 – Property tax exemption for long-term homeowners; HB0045 – Property tax exemption-residential structures and land; and SF0089 – Veterans ad valorem exemption-amount. House Bill 3 provides an exemption of 50% of a property’s value for primary residence homeowners if the primary owner of the residence or their spouse is 65 or older and has paid property taxes in the state for 25 years or more. House Bill 45 puts a 4% cap on year-to-year property tax increases on residential structures and land, while Senate File 89 doubles the veterans tax exemption from $3,000 to $6,000 of assessed value.
“I am happy to sign this package of legislation, which provides targeted relief to taxpayers most impacted by increasing valuations, while ensuring our counties and schools are able to continue to provide the services our residents rely on,” Governor Gordon said. “There was an identified need, and this legislature responded to that.”
Governor Gordon exercised his line-item veto authority on HB0004 – Property tax refund program, removing the highest income category from the program. In his letter explaining the line-item, the Governor said the bill brings expanded and needed relief, but expressed concern that the $20 million appropriated by the Legislature would be insufficient to fund the program if that highest income category was included.
“I want to thank the Legislature for answering the call and funding an expansion of this program, which helped more than 9,000 Wyoming families last year,” Governor Gordon said.
The Governor vetoed SF0054 – Homeowner tax exemption, expressing concern that the exemption was not targeted and jeopardized the financial stability of the state and counties. It represented, “a socialistic type of wealth transfer, mostly from the energy sector, to Wyoming homeowners.” The backfill of lost local tax revenue to local school districts, cities, towns, counties and special districts would likely cost the state more than $220 million for the biennium, the Governor wrote.
“The Bidenomic-type of ‘tax relief’ in this bill is what I would expect from Washington, D.C. liberals, not conservative Wyoming legislators,” the Governor added. “It is a temporary relief measure that could lead to budget shortfalls, and will ultimately be paid for by raising taxes on our children.”
Governor Gordon issued a line-item veto to HB0166 – Education savings accounts-1 to address constitutional concerns over the use of state funds. The bill establishes an education savings account program that provides funding to parents for their children’s education expenses, ranging from pre-kindergarten through age 21. The Governor’s line item veto preserves funding for those students whose household income is at or below 150% of the federal poverty level.
“While the intent to support education and parent choice is commendable, my analysis revealed practical and constitutional complications within the bill’s provisions,” the Governor wrote in his letter. Citing his desire to see the program ultimately succeed, the Governor said he was prepared to press these issues as they relate to religious societies or institutions.
“By proceeding carefully, with a clear understanding of both the benefits and challenges associated with education savings accounts, we can work towards a system that enhances parental choice while maintaining the integrity and effectiveness of our public education system,” he wrote.
Governor Gordon also vetoed SF0067 – Public employee retirement plan-contributions. The Governor said the bill’s effect would be to reduce the take-home pay of state employees at a time when inflation eats away at the purchasing power of all Wyoming families.
Governor Gordon allowed the following bills to go into law without his signature:
HEA0055 HB0092 Protection of parental rights.
SEA0055 SF0006 Nursing home administrators-temporary licenses.
The Governor signed the following bills today:
HEA0044 HB0003 Property tax exemption for long-term homeowners.
SEA0061 SF0089 Veterans ad valorem exemption-amount.
HEA0054 HB0045 Property tax exemption-residential structures and land.
The Governor’s letters addressing his vetos and the bills he allowed to go into law without his signature, along with the full list of bills he has taken action on during the 2024 Legislative Session can be found on the Bills page of the Governor’s website.
Dennis Fox
March 22, 2024 at 12:56 pm
A reduction of any tax, including property taxes, should never be seen as, “Costing the State.” That’s a big-gov’t, socialistic mind-set, that assumes all money belongs to the state. Tax-payers should not advocate something that will reduce the huge amount of our money stacked up in Gov’t Coffers. It’s governments money, don’t you see, not ours. We citizens are just the cows being milked or slaughtered, as the gov’t sees fit.
People are struggling in this economy and we need, no we Demand, tax relief. If we can’t get it thru property tax reduction, then we’ll vote to Lower the Burdensome, highest sales tax in Wyoming, at 6%. Should the county commissioners “allow” us to vote on the Cap Tax this fall;
we should drop the Sales Tax to a more reasonable FIVE Percent!
We may not be able to vote on lowering the Property Tax, But we CAN vote to lower the Sales Tax to 5%.
We have to get tax relief Somewhere!
BTW, the average family will save about $10,000 by lowering the sales tax to 5%.
Dennis Fox
March 22, 2024 at 5:04 pm
So no tax relief for the vast majority of homeowners. They’ve jacked-up our property taxes by almost 50% and will now “cap it” at a 4% increase annually.
Gee thanks master…may I have another.
Guess they’ve skinned us enough for now? And now will slowly carve down to the bone.
They may soon find out that people will only suffer as long as suffering is endurable. Then they move, build smaller or find other ways to cut taxes.
Dropping the Sales Tax to 5% is the next logical step. If we can’t get property tax relief, we’ll vote ourselves a lower, more affordable 5 cent sales tax….then 2 years from now drop it to 4…or lower.
Dennis Fox
March 22, 2024 at 6:06 pm
They offer us crumbs off the “King’s” table and we’re supposed to be satisfied?
Well, we’re Not!
In fact, many of us are fed up with a non-responsive gov’t. They just don’t seem to hear and understand our situation.
We need tax relief and we need it now.
If we can’t get property taxes lowered, then we’ll just have to vote OUT the one-percent Cap Tax.
While it won’t save us much, initially, the 10 grand average savings per household (over a working lifetime) does add up.
And if we invest that one-percent savings in good, growth-stock mutual funds; it could grow to almost $250,000!
That’s right! Each household in Sheridan County (on average)
could grow that One-percent savings, to about a quarter of a million dollars, in 40 years.
And the sooner we drop the sales tax to 5%, the sooner we can start growing our wealth.
More info to follow.
Lower taxes are always better.
Drop it to Five,
And we’ll all Thrive.
Solomon Morris
March 25, 2024 at 8:21 am
Again, Mr. Fox, your sales tax claim is misleading. Sheridan is not the only county with a 6% sales tax, and parts of Teton County have an 8% sales tax.
Simply put Sheridan does not have the highest sales tax rate and even to allude to that is propaganda.
Dennis Fox
March 26, 2024 at 6:33 pm
No county in Wyoming pays a higher Sales Tax, than Sheridan’s 6%. Yes, several other counties have bought into the Liberal High-Tax Propaganda and they have an equally high tax. So we’re Tied with a minority of counties with the highest sales tax of any county in Wyoming, at 6%.
It’s a distinction without a difference.
Sheridan County, at 6% pays the highest sales tax of any county in Wyoming! That’s a fact, Jack.
The majority of people and counties pay a 4 or 5% Sales tax, and do just fine.
I get a kick out of high-tax, big-gov’t libs trying to defend high taxes to the free and Independent folks of the WEST!
Glad yawl weren’t around for the Boston Tea Party.
That idiotic high-tax delusion would have sunk America!
High taxes hurt People.
Lower Taxes are Always Better.
Bring Back the Five Cent Sales Tax.
Michael J Johnson
March 28, 2024 at 5:29 pm
Simple math will tell you that 18 out of 23 counties is not a “minority”. I’ve listed the other counties that have 6% or higher sales tax in Wyoming.
Thus ending the math lesson of the day.
Michael J Johnson
March 28, 2024 at 3:56 pm
OOPS You did it again.
Albany County 6%
Big Horn County 5%
Campbell County 6%
Carbon County 6%
Converse County 6%
Crook County 6%
Fremont County 6%
Goshen County 6%
Hot Springs County 6%
Johnson County 5%
Laramie County 6%
Lincoln County 5%
Natrona County 6%
Niobrara County 6%
Park County 6%
Platte County 6%
Sheridan County 6%
Sublette County 4%
Sweetwater County 6%
Teton County 8%
Uinta County 5%
Washakie County 6%
Weston County 6%