Property tax-homeowner's exemption.

Wyoming's SF 121 establishes a property tax exemption for primary residences, allowing homeowners to exclude up to $300,000 of their home's value from annual property taxes. To qualify, residents must have lived in Wyoming for at least five years and resided in the home for nine months of the prior tax year, and must submit an annual sworn claim by May 4th. The exemption applies to single-family homes only, with no more than one exemption per property per year, and includes penalties for false claims. Funding for the exemption will come from the state's legislative stabilization account, with counties reporting impacts to the state department of revenue. The bill takes effect January 1, 2025.