Freedom Caucus developing property tax solutions

by Joseph Beaudet, The Sheridan Press

Via Wyoming News Exchange

The Wyoming Freedom Caucus discussed potential property tax reform options during a Patriot Chat with local Republicans last Saturday.

Rep. Mark Jennings, R-Sheridan, said he plans to run a bill centered on acquisition-based property tax for the third consecutive year. During the 2023 session, Wyoming legislators approved Jennings’ bill to conduct a study to evaluate the hurdle associated with implementing acquisition-based property taxes in Wyoming. Conservative legislators are pushing for Jennings’ bill.

“(If) your neighbor moves in and they overpay for their property, it doesn’t affect your property,” Jennings said.

The state hired Florida-based TEAM Consulting to conduct the study on acquisition-based property taxes. Consultants determined Wyoming does not currently have the necessary legal framework to implement acquisition-based property taxes. Ed Crapo, one of the consultants that presented the study to the Joint Revenue Committee in October, said some of the building blocks required would be constitutional amendments, additional staff, revisited statutes and administrative rules.

When the study was presented in October 2023, several public commenters and legislators — including Jennings — were critical of the study because it did not include taxpayer interviews.

Jennings explained Saturday that acquisition-based property tax would be the reform needed for the state’s taxpayers, as opposed to the state’s property tax refund program.

“That’s a Band-Aid. It is not reform, and it is not what we really need in this state,” Jennings said.

Legislators are set to consider a bill to expand eligibility for the property tax refund program during the upcoming budget session. The bill would make those earning up to 175% of the county’s median income eligible — rather than the current 125%.

Rep. Ken Pendergraft, R-Sheridan, said legislators are also likely to propose or amend a bill to prevent property tax increases in years the Wyoming Legislature has a budget surplus such as the 2023 general session when legislators put $1.8 billion into various savings accounts.

“In other words, you’re not going to get any more. You’ve already got a surplus,” Pendergraft said. “It’s common sense.”

When asked how members of the public can help push property tax reform through the Wyoming Legislature, Pendergraft encouraged folks to attend committee meetings, especially because the majority of legislators try to ensure state agencies are fully funded.

“We need you there,” Pendergraft said. “You can do it on the internet, although I suggest you actually try to make it down when there’s a bill you’re concerned about.”

The upcoming budget session of the Wyoming Legislature will convene Feb. 12.