Committee endorses property tax bill

Cheyenne, WY – An interim Wyoming legislative committee has voted to endorse a bill that would cut property taxes for nearly 157,000 homeowners.

The Joint Interim Revenue Committee on Tuesday endorsed a bill that would give property owners who have lived in their homes for at least three years an average exemption of $256 a year on property taxes.

The bill would give homeowners a $4,400 exemption on their home's assessed valuation, regardless of its value.

Gov. Dave Freudenthal had proposed giving a $5,000 exemption to those who owned homes with a market value of $237,000 or less.

Lawmakers say they expect to consider several property tax relief proposals in the legislative session that starts next month.