Property tax-acquisition value.
HB0282 makes major changes to Wyoming’s property tax valuation and appeal framework by creating a rebuttable presumption in favor of acquisition value for certain real property. In practical terms, the bill is aimed at limiting how quickly taxable value can rise for properties that have changed hands, while still allowing assessors and the Department of Revenue to use fair market value concepts and existing appraisal systems for other property classes. The bill also clarifies how sworn statements used in property tax administration may be used, disclosed, and kept confidential.
The bill amends multiple provisions governing county assessors, the Department of Revenue, and county and state boards of equalization. It requires the department and state board to adopt rules to implement the act, updates notice and appeal procedures, and expands the information that must be included on assessment schedules, including prior-year values, assessment ratios, and estimated taxes. It also specifies that taxpayers may present credible evidence, including expert testimony, to rebut the valuation presumption in appeals, and it sets deadlines for rulemaking and an effective date of January 1, 2026.
HB0282 would alter Wyoming property tax administration by shifting the valuation approach for specified real property toward acquisition value rather than purely current fair market value, which could affect assessed values, tax bills, and the timing of reassessments after a sale. It also changes confidentiality and disclosure rules for sworn statements used in valuation studies, while preserving their use as statistical data rather than as standalone evidence to adjust an individual property’s assessment. Counties, assessors, the Department of Revenue, and boards of equalization would need to update forms, procedures, and rules to comply with the new appeal and notice requirements.
The bill appears to have had meaningful support but also significant opposition. It passed the House on third reading 35-25 after receiving a favorable revenue committee recommendation, indicating support from a majority but not broad consensus. In the Senate Revenue Committee it again received a recommendation to amend and do pass, but the bill then failed on the Senate Committee of the Whole vote 8-21, suggesting that concerns intensified or that the amended version did not secure enough support. Overall, the sentiment was mixed, with supporters favoring property tax relief and valuation stability and opponents likely concerned about tax-base impacts and changes to assessment practice.
The main point of contention is the bill’s move toward acquisition value for certain real property, which can reduce or slow increases in taxable value after a property changes ownership. Supporters likely viewed this as a taxpayer protection and a way to make property taxes more predictable, while opponents likely worried it would create inequities among taxpayers, complicate uniform valuation, or reduce local government revenue. Another area of debate is the expanded use and disclosure of sales information and sworn statements in appeals and valuation studies, balancing taxpayer transparency and confidentiality against assessor access to data. The bill’s changes to rebuttable presumptions and appeal procedures also likely raised concerns about administrative burden and litigation in property tax disputes.