Homeowners speak in favor of a new property tax system, lawmakers move to draft new bill

CHEYENNE — Members of the Joint Revenue Committee moved to draft legislation during their Monday meeting that would amend the state constitution and implement an acquisition value property tax system in Wyoming.

An acquisition value property tax system assesses a property at its market value from the time the property was purchased, with limited annual tax increases until the property is resold, according to the Lincoln Institute of Land Policy. Acquisition value is defined under HB 100 as “the purchase price paid for the acquisition of property.”

Representatives from Team Consulting,...