Property tax acquisition value study.

Wyoming's HB 109 requires the Department of Revenue to study converting the state's property tax system to one based on a property's purchase price (acquisition value), excluding agricultural and commercial land. The study must assess necessary legal changes, revenue impacts, and ensure the transition would be revenue-neutral in the first year, with valuations applied prospectively only. The department must report findings to the Joint Revenue Committee by September 2022, enabling lawmakers to consider related legislation for the 2023 session. This bill does not change current tax rules but mandates an analysis of potential future reforms.