Prior to the pandemic, property taxes in Wyoming were rising 3% to 4% annually, according to state figures. But last year, they jumped 16% on average across the state. The increase was much larger in some counties, like Teton County, where it was 36%.
The state House Revenue Committee passed a bill Thursday that would make it easier for Wyoming residents to receive property tax rebates.
In discussing soaring property tax rates which have increased from up to 30% – 50% in his district, Wyoming Sen. Dan Dockstader on Thursday said a “old, beat-up, doublewide trailer on a itty-bitty lot” sold for $675,000 last year
A bill drafted for the upcoming Wyoming legislative session would allow communities to create airport districts, which could then tax citizens to support themselves.
Wyoming property valuations were up $7 billion this year. To deal with skyrocketing property taxes, the Revenue Committee approved an act that — if passed by the Legislature — would allow citizens to vote on capping property taxes.
Sens. Barrasso and Lummis believe an army of 87,000 new IRS agents funded by President Biden’s $80 billion increase to the agency could wreak havoc on the American taxpayer. They have sponsored legislation which would limit the IRS’ reach.
Wyoming’s 4% sales and use tax collections were a little more than $1 billion for fiscal year 2022, an increase of 10.1% year over year. That is near the record levels of fiscal year 2015.
Cheyenne Rep. Landon Brown says lowering sales and use tax from 4% to 2.5%, but apply the tax to more services, would generate similar income for the state while reducing reliance on revenues from energy sector.
Stating that he doesn’t want Park County to turn into Jackson Hole, county assessor Pat Meyer said he supports a cap on property taxes after rates in the county went up by as much as 45 percent in the last year alone.
Wyoming has again been identified as the state with the country’s best tax climate for businesses by a tax policy group.
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Wyoming’s hospitality and retail sectors were the high spots in the state’s economy in August and have been for the last two years, according to figures released by a state agency.
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Wyoming’s sales and use tax collections in May increased by almost 14% over May of 2020, according to a state agency, due largely to a serious slump in collections one year ago caused by the coronavirus pandemic.
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A pair of bills proposing increases in the statewide sales tax being debated in the Wyoming House of Representatives saw divided fortunes Tuesday.
Sen. Anthony Bouchard, R-Cheyenne, said Wyoming sell its two jets used for transporting state employees in lieu of raising taxes, but some officials have pushed back against this idea.
For the seventh consecutive year, Wyoming has been ranked the top state in the nation by a tax policy group for its business tax climate.
While spending the check is entirely up to you, Pope does not recommend buying $1,200 worth of Ho-Hos and Schlitz Malt Liquor.
Under this bill, voters would have to approve tax increases and higher debt levels.
A statewide lodging tax bill is being proposed again this year at the Wyoming legislature. Only five states have lodging tax rates lower than Wyoming.
As coal, oil and natural gas revenues decline, state legislators could have some hard decisions ahead, according to information generated by a strategic planning effort created by Gov. Mark Gordon.
A plan to expand Medicaid coverage to about 19,000 Wyoming residents won approval from a legislative committee on Tuesday.
A bill that would have doubled the alcohol taxes in Wyoming was rejected on Wednesday by a legislative committee.
Coal production in Wyoming has dropped by over 100 million tons in the past decade, and state Sen. Cale Case doesn’t think the downward slide is close to finished.
Wyoming Governor Mark Gordon talked turkey on taxes at a wide ranging press conference yesterday in Cheyenne.
It is time for the state to study a possible increase in gasoline taxes, according to the co-chairman of the Legislature’s Revenue Committee.
A legislative committee is once again studying a proposal to impose an income tax on so-called “big box” stores.
Wyoming, by our state’s constitution, must have a balanced budget. Some would argue that we do not deficit spend in Wyoming while others would argue that we use the reserves to balance the budget which is, in a sense, deficit spending. From my own simple understanding, when we spend more in a period than we take in, it is deficit spending.
Poor Gillette obviously is in the doldrums from mines closing. Poor Casper with all the downtowns in the energy industry, is certainly lagging, right? Not necessarily.
Sales taxes, investment income, oil severance taxes and federal mineral royalties are proving to be the saving grace for state coffers, according to a recent report, but the overall revenue picture for Wyoming remains bleak.
The Wyoming Legislature’s Joint Revenue Committee met in Cheyenne on Monday. The panel, charged with reviewing Wyoming’s tax policy and finding ways to pay for state spending, drew a crowd.
It’s all over for this year. Check out our bitesized rundown of what passed and what failed in the 65th Wyoming Legislature’s General Session. Stay tuned this weekend for more analysis on the session highs and lows with our Robert Geha.
The first three bills to be reviewed by Wyoming’s House on what was scheduled to be the last day of its 2019 general session did not fare well on Wednesday.
A measure that would have imposed a statewide 5 percent tax on hotel and motel stays was killed by the Senate on Monday.
The last of three bills that would have put restrictions on when voters can change party affiliations was among a number to die this week as the Legislature neared the end of its general session.
A bill that would impose a statewide 5 percent tax on hotel and motel stays was approved in its first Senate review on Thursday.
Attempts to change Wyoming’s tax structure must continue despite the defeat of a bill that would have created a corporate income tax, according to a legislative leader.
A plan to impose an income tax on large companies that do business in Wyoming but are headquartered elsewhere died in a Senate committee on Tuesday.
A measure that would impose a statewide tax on all hotel and motel stays is headed for the Senate floor after clearing a committee on Tuesday.
A plan to reward the state’s investment officials for good decisions will help the state build and maintain a team of skilled investment professionals, according to state Treasurer Curt Meier.
Here is a look at the status of some of the bills being considered by Wyoming’s Legislature during its general session:
A state representative is trying to bring coal taxes more in line with those assessed against oil and gas.
A measure that would have boosted taxes on cigarettes and other tobacco products was killed in a House committee on Monday.
The House Revenue Committee voted 5-4 to keep HB 218 from reaching the House floor The bill would have increased cigarette taxes by $1 per pack, from 60 cents to $1.60.