WY HB0073

Establishes a "base year value" system for residential property taxation beginning January 1, 2028, where property is assessed at its value when last acquired rather than current market value

Sets base year values based on acquisition date: properties acquired before December 31, 2019 use January 1, 2019 values; properties acquired 2020-2027 use January 1 values from the acquisition year; properties acquired after January 1, 2028 use the purchase price as presumptive fair market value

Caps annual assessment increases at the lesser of 2% or the Consumer Price Index, with full decreases allowed when market values decline

Exempts certain transfers from triggering reassessment, including transfers between spouses, parent to child, inheritance, divorce settlements, transfers to trusts or business entities where the owner retains interest, and charitable donations

Requires voter approval of a constitutional amendment (2026 House Joint Resolution 0004) at the 2026 general election before taking effect