WY SF0078

Creates a new property tax category for "residential real property" with a taxable value assessment rate of 8.3% of fair market value, reduced from the standard 9.5% rate for other property

Defines "residential real property" as dwellings designed to house no more than 3 families, including single-family homes and individual condominium units used as a primary residence, plus associated land if owned by the dwelling owner

Maintains the existing 9.5% assessment rate for all other real and personal property

Applies to tax years beginning January 1, 2026

Takes effect immediately upon completion of all acts necessary for the bill to become law