You might remember seeing ‘Constitutional Amendment A’ on your ballot – it was towards the end.
The majority of Wyomingites voted ‘yes.’ That means residential property will now be in its own tax class. Before, it was lumped in with commercial and agriculture.
This change lets lawmakers potentially break it down even further, separating owner-occupied primary homes from second homes. This is something they could do as soon as the 2025 legislative session.
Supporters of the amendment change say this could be big for lowering property taxes. This is especially top of mind in areas like Jackson and Pinedale, where home values are surging, and that’s reflected in tax rates.
Notably, ‘yes’ votes were overwhelming in Teton County.
But those against the change don’t think it goes far enough, since it doesn’t give tax relief yet.
This amendment started out as a Senate resolution in the 2023 legislative session. At the time, some legislators said they were worried this change to the constitution wouldn’t really provide property tax relief, just create a new class that could be taxed more or less depending on who’s in charge in Cheyenne. But the bill eventually passed, and needed the approval from Wyoming voters on election day to become law.
If the Legislature decides to lower property taxes under this new subclass, it could provide homeowners with some relief. But the amendment doesn’t answer questions that could prove to be important down the road. For instance, if you run a business out of your home, it seems unclear how your property would be taxed, then.