College tuition-property tax credit.

09LSO-0390.L1

FISCAL NOTE

The fiscal impact, in the form of decreased ad valorem tax revenues to local governments, is indeterminable.

The bill provides for an ad valorem property tax credit for residential homeowners with limited income that are enrolled as full-time students at the University of Wyoming or one of Wyoming’s seven community colleges. The term, “limited income” is defined in section one of the bill.

The ad valorem tax credit would be equal to the cost of one credit hour. The average cost of one credit hour of in-state tuition at the University of Wyoming for FY 2009 is $94 for undergraduate students, $174 for graduate students, $288 for law students, and $262 for pharmacy students. The average cost of one credit hour at the community colleges is currently $65 per credit hour.

Neither the University of Wyoming or the community colleges have information to establish the actual number of full-time students that own their own residences. Therefore, the fiscal impact, in the form of decreased ad valorem tax revenues to local governments, is indeterminable.

Prepared by:   Dean Temte, LSO    Phone: 777-7881

(Information provided by Ed Oleske, UW; (307) 766-4183:

Matthew Petry, Community College Commission; 777-5859)