In March of 2022, Governor Mark Gordon signed into law the State of Wyoming Property Tax Refund Program that allows qualifying homeowners to claim a refund on a portion of their property taxes paid in 2021. The applications for this program are due Monday, June 6,2022. To qualify for this program, you must meet certain criteria regarding residency, value of assets and income level.
- You must own your home
- You must have timely paid your 2021 property taxes
- You must have been a Wyoming resident for the past 5 years
Assets Requirements :
- Your total personal assets must not exceed $133,651 per adult household member.
- Assets that DO NOT factor in calculation are:
- Value of your home
- Value of 1 vehicle per adult household member
- Any retirement accounts (IRA’s, 401k, Medical Savings account, etc.)
- Personal Assets that need to be counted in that calculation are:
- Bank accounts
- Investments (Stocks, bonds, mutual funds, CD’s, etc.)
- Any real estate (other than residence you are applying to receive a refund for)
- Motor vehicles in excess of the one allowed for each adult member of the household
- Your household income must be equal to or less than ¾ of the median household income for the state or county in which you reside, whichever is greater. For Natrona County ¾ of the median income is $50,138 and the state of Wyoming is $51,975. Therefore, for Natrona County residents if your income is below $51,975 you meet the income requirements.
If you meet all of these tests, you can qualify for a refund from the state of Wyoming equal to the lesser of ½ of the property tax paid on your residence in 2021 or the median residential property tax liability for your county of residence.
Applications for this program can be found at your local county treasurer’s office or at the Wyoming Department of Revenue Website and are due June 6, 2022.
If you have any questions regarding if you qualify for this program or need assistance in completing the application, give our staff a call at 307-577-4040.
Wyoming Department of Revenue Website: https://revenue.wyo.gov/home