SJ0006 - Property tax-valuation.

 

2001

State of Wyoming

01LSO-0249

 

 

 

SENATE JOINT RESOLUTION NO.  SJ0006

 

 

Property tax-valuation.

 

Sponsored by:  Senator(s) Larson and Representative(s) Law
and Shivler

 

 

A BILL

 

for

 

 1  A JOINT RESOLUTION proposing to amend the process of
 2  property valuation for taxation purposes and to authorize
 3  the legislature to prescribe procedures for the valuation
 4  of agricultural and grazing lands when there is a transfer
 5  of ownership at a value exceeding the assessed production
 6  value of the land.

 7 

 8  BE IT RESOLVED BY THE LEGISLATURE OF THE STATE OF WYOMING,
 9  two-thirds of all the members of the two houses, voting
10  separately, concurring therein:

11 

12         Section 1.  The following proposal to amend Wyoming
13  Constitution, Article 15, Section 11(a)(intro) and (b) is
14  proposed for submission to the electors of the state of
15  Wyoming at the next general election for approval or

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 1  rejection to become valid as a part of the Constitution if
 2  ratified by a majority of the electors at the election:

 3 

 4         Article 15, Section 11.  Uniformity of assessment
 5  required.

 6 

 7         (a)  All property, except as in this constitution
 8  otherwise provided, shall be uniformly valued at its full
 9  valueas defined by the legislature, in three (3) classes
10  as follows:

11 

12         (b)  The legislature shall prescribe the percentage of
13  value which shall be assessed within each designated class.
14  All taxable property shall be valued at its full valueas
15  defined by the legislature except agricultural and grazing
16  lands which shall be valued according to the capability of
17  the land to produce agricultural products under normal
18  conditions. The legislature shall prescribe procedures for
19  the valuation of agricultural and grazing lands when the
20  transfer of ownership of agricultural and grazing lands
21  occurs at values exceeding assessed production values. The
22  percentage of value prescribed for industrial property
23  shall not be more than forty percent (40%) higher nor more

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 1  than four (4) percentage points more than the percentage
 2  prescribed for property other than minerals.

 3 

 4         Section 2.  The Secretary of State shall endorse the
 5  following statement on the proposed amendment:

 6 

 7         The passage of this amendment would change the way in
 8  which property is valued for taxation purposes from the
 9  current "full value" to a value as defined by the
10  legislature. The legislature would also be authorized to
11  prescribe procedures for the valuation of agricultural and
12  grazing lands for taxation purposes when a transfer of
13  ownership occurs at a value exceeding the assessed
14  production value of the land.

15 

16                         (END)

 

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