Property tax valuation-fair market value.

This bill changes how property taxes are calculated for personal property and structures attached to land in Wyoming. It revises the definition of "fair market value" to require valuation based on "replacement cost new less depreciation" for these property types, instead of previous methods. This directly affects property owners whose taxes are assessed using this valuation standard, particularly for items like equipment, vehicles, and buildings. The Department of Revenue must adopt implementing rules by January 1, 2026, with the new valuation method taking effect on that date.