Tue. Nov 26th, 2024

Wyoming voters on Tuesday approved a constitutional amendment to segregate residential real estate from other forms of property for taxation purposes. 

Set into motion by lawmakers in 2023, about 54% of voters supported a measure to recategorize property-tax classes, according to unofficial results from the Wyoming Secretary of State’s office. 

Until now, the Wyoming Constitution grouped residential with commercial and agricultural property. That’s made it difficult for lawmakers to respond to surging home values in much of the state with changes that only addressed how homes are taxed. Instead, lawmakers have relied on more short-term fixes, including expanding the state’s property tax refund program, creating new exemptions for certain homeowners and boosting an existing exemption for veterans. 

With the success of the amendment, lawmakers will have one fewer constraint to contend with. What exactly the Legislature does next remains to be seen, but the measure also grants them the option to create a subclass for owner-occupied, primary residences. 

The legislation that put the amendment before voters on the general election ballot received the requisite two-thirds support in both the House and the Senate. But even some of those who voted in favor of it expressed concern that it would open the door to higher taxes. Other opponents held that the amendment would create an unfair and unnecessarily complex system for taxpayers. 

Supporters, meanwhile, argued that it would enable the Legislature to address property taxes without starving essential public services — property taxes fund education and local governments. 

Support for the amendment saw significant financial backing from a political action committee tied to a statewide realtors group. According to campaign finance records, the 4 Wyoming PAC spent more than $544,000 on advertising since late September — an extraordinary amount of money for Wyoming elections in a short period of time. 

The measure is the 14th amendment to the Wyoming Constitution approved by voters since 2000.

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