Local Option Property Tax Deferral Program

State

Wyoming

Year

2022

Variations in Receipt of Benefit

No Variation in Receipt of Benefits

Benefit Type

Deferral

Benefit

The benefit is a deferral of up to one-half of any real estate ad valorem taxes owed by the property owner on their principal residence. Any deferral of collection of taxes granted by the board of county commissioners shall constitute a perpetual tax lien against the property with priority over any other lien. Interest shall accrue on any tax collection deferral granted by the board of county commissioners at a compounded rate of 4% per annum. For persons who qualify due to disability, interest shall accrue at a rate equal to the average yield on 10-year United States treasury bonds for the previous 3 calendar years, plus 1.5% as determined by the state treasurer for the calendar year preceding the year in which the application is made. Any tax collection deferral may be prepaid at any time without prepayment penalty.

How is Benefit Disbursed

Other

Eligible Property Type

Residential

Characteristics of Eligible Property

Eligible property must be on a parcel of land not more than 40 acres.

Eligibility Criteria

Age

Disability

Homeowner

Income Ceiling

Principal Residence

Other Criteria

Description of Eligibility Criteria

An owner is qualified if they meet any one of the following criteria: (1) are over the age of 62, (2) are a person with a disability as determined by the Social Security Administration, (3) had purchased the property at least 10 years prior to the beginning of the tax year for which they are applying for deferral of taxes, or (4) can demonstrate that their gross monthly income is at or below 250% of the adjusted federal poverty level for a household of four, regardless of the actual household size and adjusted annually by the comparative cost-of-living index for the respective county as determined by the Division of Economic Analysis, Department of Administration and Information.

Local Option in Adoption of Program

Local government must take action to opt in

Local Option Regarding Program Features

Local option regarding program features

State Funding for Local Tax Loss

Local government covers all of its tax loss

Record ID

WY104_RR22

Footnotes

Unless declared to be due earlier, any taxes deferred shall be due and payable upon a significant change in the taxpayer's financial status as determined by the board of county commissioners, abandonment of the property, failure to annually file the affidavit required by this paragraph, the death of the property owner, or the sale or transfer of the property, whichever occurs first. If the board of county commissioners finds at any time that the total taxes deferred exceeds one-half (1/2) of the fair market value of the property as estimated by the board of county commissioners, the board of county commissioners may declare, by written order, that all deferred taxes are immediately due and payable. Participating taxpayers must annually file an affidavit demonstrating qualification and any significant change to their financial status. The annual application deadline is November 10th.

Sources

Wyo. Stat. § 39-13-107 (b)(iii) (in effect for 2022)
Teton County Assessor, Property Tax Deferral Application
[https://www.tetoncountywy.gov/DocumentCenter/View/4741/Property-Tax-Deferral-Program-PDF Accessed 12/01/2023]
View Archived Source
Teton County Assessor Tax Relief Program
[https://www.tetoncountywy.gov/223/Property-Tax-Deferral-Program Accessed 12/01/2023]
View Archived Source

State of Wyoming, Department of Revenue, General Information: Tax Relief
[https://wyo-prop-div.wyo.gov/tax-relief Accessed 12/01/2023]
View Archived Source

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