Bill Offers Tax Relief to Seniors
Written by Andrew-Rossi on January 22, 2019
Legislation introduced in the House last week provides for property tax relief to Wyoming senior citizens.
House Bill 128, the Senior Property Tax Exemption bill, allows qualified residents to lock in the assessed value of their primary residence in the first year they apply for an exemption and continue to pay property tax on that base value for as long as they, or their qualifying spouse, continue to own and reside in the home.
Representative Richard Tass pointed out that allowing those over the age of 65 to receive a property tax exemption will have a negligible impact on state budgets. And Representative Art Washut points out that the bill will provide some financial stability to residents, many of whom live on a fixed income, by freezing the assessed valuation of their homes.
The bill passed the House Revenue Committee on Friday, and is now in the General File to be considered by the full House.