News – Sheridan Media
In his second weekly discussion with Sheridan Media, State Senator Dave Kinskey (R-Sheridan, Johnson Counties) talked about property tax reform.
He said he has a favored way to bring down property taxes, but is concerned about other ideas that have been brought to lawmakers for debate.
One is an acquisition-based property tax, and he explained how that would work.
He said there is a good chance that acquisition-based property taxes could become problematic as it has in other states that have implemented it.
According to Kinskey, currently, Wyoming’s property taxes are based on a 1990’s Constitutional Amendment that says all property must be assessed at its fair market value, which makes sense until values skyrocket, causing significant increases in homeowners’ property taxes.
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Last modified: January 19, 2023