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CHEYENNE — In this year’s general election, Wyoming voters will decide whether to approve a constitutional amendment that would separate residential real property into its own class, separate ...
Wyoming's Amendment A puts property tax relief in the hands of voters on Election Day.
Mar. 22—CHEYENNE — Some property owners in Laramie County may get some property tax relief as soon as this year, while others might have to wait until next year. Four property tax bills signed ...
Mine lands, underground mining equipment, and oil and gas extraction equipment are exempt from property tax, but companies must pay a gross products tax on minerals and a severance tax on mineral production. [96] [97] Wyoming does not collect inheritance taxes. There is limited estate tax related to federal estate tax collection.
The state has no direct personal income tax and does not collect a sales tax at the state level, although it allows local governments to collect their own sales taxes. Alaska collects most of its revenue from corporate taxes on the oil and gas industry.
The Department of Revenue is a department of the Wyoming state government responsible for the collection of mineral and excise taxes as well as valuing property and the wholesale distribution of alcoholic beverages and enforcement of liquor laws. Personal or corporate income taxes are not levied.
The proposed legislation divided Wyoming lawmakers and residents over its passage — one side argued the bill draft was a necessary step in providing much-needed property tax relief for ...
Values are determined by local officials, and may be disputed by property owners. For the taxing authority, one advantage of the property tax over the sales tax or income tax is that the revenue always equals the tax levy, unlike the other types of taxes. The property tax typically produces the required revenue for municipalities' tax levies.