Kinskey on Cost of Senate’s Property Tax Reform Bill

News – Sheridan Media

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State Senator Dave Kinskey (R-Senate District 22) is in Cheyenne for this year’s legislative budget session and he will be updating Sheridan Media during the session.

Earlier he talked about SF0054, the Homeowner Tax Exemption, and how it will help homeowners dealing double-digit property tax increases.

He explained that the bill will set a $200,000 tax credit on everyone’s homes, meaning a home valued at $200,000 would owe $0 in property tax, but homes valued over that amount would be taxed for value over $200,000.

Today he explains the costs to the state if the bill is passed into law.

Kinskey said even with the tax breaks, there will still be enough money for state government to operate, and still give relief to homeowners from recent property tax hikes.

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Last modified: March 3, 2024