SSF0110H2004 TATE(TO OFENGROSSED WCOPY) YOMINGDelete 26LSO-0431the SENATERiggins FILEsecond NO.reading amendment (SF0110H2001/ACE) and the Harshman second reading amendment (SF0110H2002/ACE) entirely and further amend as follows:

SF01105 ResidentialPage property2-line tax20 revisions.After "property," delete balance of line and insert "eleven and one-half percent (11.5%).".

Sponsored8 by:Page 4-line 11 After "property," delete balance of line and insert "eleven and one-half percent (11.5%).".

Senator(s)HARSHMAN Hicks,1 Barlow, Boner, Crago, Crum, Dockstader, Gierau, Kolb, Landen and Steinmetz and Representative(s) Heiner, Lien, Locke and Neiman A BILL for AN ACT relating to taxation and revenue;

providing for administration of the property tax;

specifying property tax assessment rates for residential real property;

limiting the applicability of specified mills to residential real property used as a primary residence by the owner of the property;

repealing a related property tax exemption;

making conforming amendments;

specifying applicability;

and providing for an effective date.

Be It Enacted by the Legislature of the State of Wyoming:

Section 1.

W.S.

39-11-101(a)(xvii) by creating a new subparagraph (C), by renumbering (C) as (D) and by creating a new paragraph (xix), 39-13-103(b)(iii) by creating a new SF0110 STATE OF WYOMING 26LSO-0431 subparagraph (C) and by renumbering (C) as (D) and 39-13-104(d)(i) are amended to read:

4 39-11-101.

Definitions.

6 (a) As used in this act unless otherwise specifically provided:

9 (xvii) "Taxable value" means a percent of the fair market value of property in a particular class as follows:

(C) Residential real property as follows:

(I) An owner occupied primary residence, eight and three-tenths percent (8.3%);

(II) All other residential real property, nine and one-half percent (9.5%).

(C)(D) All other property, real and personal, including property valued and assessed under W.S.

SF0110 STATE OF WYOMING 26LSO-0431 39-13-102(m)(vi) and (ix), nine and one-half percent (9.5%).

4 (xix) Owner occupied primary residence" means residential real property where the owner of the property resides for not less than six (6) months of the applicable tax year;

9 (xx) "Residential real property" means real property improved by a dwelling designed to house not more than three (3) families and includes associated residential land where the dwelling is located if the land is owned by the owner of the dwelling.

The dwelling may be any type of dwelling including a single family home or an individual condominium unit if the dwelling is used as a residence.

39-13-103.

Imposition.

(b) Basis of tax.

The following shall apply:

(iii) Beginning January 1, 1989, "taxable value" means a percent of the fair market value of property in a particular class as follows:

SF0110 STATE OF WYOMING 26LSO-0431 2 (C) Residential real property as follows:

4 (I) An owner occupied primary residence, eight and three-tenths percent (8.3%);

7 (II) All other residential real property, nine and one-half percent (9.5%).

(C)(D) All other property, real and personal, nine and one-half percent (9.5%).

39-13-104.

Taxation rate.

(d) There shall be annually levied and assessed upon the taxable value of property within the limits of Wyoming school districts the following school taxes when applicable:

(i) Not to exceed the number of mills provided by W.S.