A new property tax refund program that was created by legislation signed into law in March will provide relief to some Wyoming taxpayers, according to Gov. Mark Gordon.
Enrolled Act No. 26 allows counties in the state to create refund programs wherein taxpayers can request a refund of some of their property taxes that were paid last year. The program applies to residents who have lived in the state for at least five years, owned their property for at least nine months, and have paid their 2021 property taxes in full.
The deadline for applying for the program is Monday, June 6.
“Wyoming has not raised tax rates, and yet Wyoming citizens are feeling the pinch as their home values have risen,” Gordon said in a statement.
According to data from Zillow, Wyoming home prices have seen steady growth over the last two years. The average home price in the Cowboy State is now over $315,000, representing a 14.6% climb from last year and a 20.6% increase from May 2020.
In turn, rising home prices often result in higher property taxes for homeowners. This is just one reason why the administration supported creating the property tax refund program, the governor said.
“[Wyoming residents] are seeing it in their assessed valuations on their property,” Gordon said. “Homeowners need some relief, and this program offers some.”
Taxpayers interested in applying for the program can get more information from their county treasurer or Wyoming’s Department of Revenue. Applications may be submitted online or sent to the Department of Revenue via mail.
