Sheridan Media’s Look Back – Property Tax Excemptions

As Sheridan Media looks back on some of the most popular stories of the 2025 year, the ongoing property tax issues that fell on the Cowboy State when property tax assessments and bills rose sharply across the state in 2022 and 2023 as property values climbed are an ongoing topic.  

Many taxpayers felt these increases were unsustainable, especially for those on fixed incomes. State lawmakers discussed that the current system required changes for many residents, especially seniors and long-time homeowners, and they began sponsoring bills aimed at expanding exemptions and changing assessment rules.

As some of these exemptions were automatically applied to homeowners in the first year, they are not automatically applied for this year. Sheridan County Assessor Paul Fall has appeared on Sheridan Media’s Public Pulse, sent information, attended 3rd Thursday events and requested the Sheridan County Board of Commissioners speak on the statewide homeowner exemption, the long-term homeowner exemption and the veteran exemption in an effort to reach as many homeowners in the county as possible.

P. Fall

The statewide homeowner exemption—which reduces a qualifying residence’s fair market value by 25% on up to the first $1 million—was applied automatically in 2025. This year, however, homeowners must notify the Assessor’s Office that the property is their primary residence to continue receiving the exemption.

Applications for all property tax programs opened on Oct. 1. The deadline for the 25% homeowner exemption is Feb. 2, while the deadlines for the 50% long-term homeowner exemption and the veteran exemption are both May 26.

P. Fall

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