Property tax reform 2024 (sales, assessors, house)

[GoshWyo]

I liked the original Steve Harshman proposal in which the first million dollars of property value would be exempt from property tax in exchange for a 2% increase in sales tax. Now it’s getting amendments. Who knows how this will end up.

But I am encouraged that this issue is getting some serious attention. Thank goodness.

[Wytempest]

Originally Posted by GoshWyo

I liked the original Steve Harshman proposal in which the first million dollars of property value would be exempt from property tax in exchange for a 2% increase in sales tax. Now it’s getting amendments. Who knows how this will end up.

But I am encouraged that this issue is getting some serious attention. Thank goodness.

Well.....it appears that 1m dropped to 500k, then.....dropped to 200k and a 1% sales tax.

I used to always refer to the majority of our legislators as rinos. Days ago after reading barry cragos statements, I realized "elitist" should not be over looked.

FYI, this coming or possibly the next, crago will be running for gov.

I'll leave my commenting at that because I only have bad comments going forward.

[Wytempest]

And... suddenly I have the overwhelming urge to start singing " happy trails" to property tax reform 2024!

[GoshWyo]

Crap.

[GoshWyo]

The latest:

https://cowboystatedaily.com/2024/02...r-finish-line/

[Wytempest]

Seen that.

First question. 3% cap yr to yr. So every four years they come out it could go up 12%?
We've seen the taxes go down 1 time in 30 yrs and been through multiple boom/bust cycles. And that was like $12 bucks lower!

Next question. Does primary residence mean the same residence for 25 yrs?

Last question. What's meant by "associated" land up to 35 acres?

[GoshWyo]

I have written both Harshman and my rep. I am hoping that the original proposal is revived.

Opinions will vary, and that’s fine.

[Wytempest]

More I think about this the more it bothers me.

Trying to understand these last three bills. Assessors supposedly come inspect every four years as in the past anyway. My better half believes that if the first bill passes, they will automatically be able to raise tax 3% each year regardless of 4 yr inspection??

Additionally the 50% reduction would help 3/4 of the legislators that are over 65 along with their associated land. Imagine that??

Hoping somebody proves me wrong on this!!

[nowhereman427]

It didn't pass.

[xPlorer48]

My state of Washington decided to assess property values at market rate. Our property value jumped 34% and our taxes increased 21.6%. Unsustainable unless you’re wealthy. Neighbors home valued at $2.5 million is taxed over $20,000. But, then, we are the last of the middle class in a gentrifying neighborhood.
Our sales tax is now 8.9% due to needing a new county jail to house all the criminals we seem to be attracting. No income tax yet, altho our state legislature tries. If we weren’t so old and life long residents, we would move to Wyoming. We will be visiting there this May-June to camp and explore.