Governor Mark Gordon Signs Key Legislation to Enhance Property Tax Relief and Improve Investment Performance
On March 17, Wyoming Governor Mark Gordon signed five important bills into law, which include significant provisions for property tax refunds and changes in investment compensation calculations. One highlighted measure allocates $10.5 million for the state’s property tax refund program for the year 2025. This initiative, which has been in place for about a decade and was expanded last year, allows homeowners with multiple tax exemptions to have the smallest exemption applied first.
Governor Gordon emphasized the importance of these changes, stating, “Over the past two sessions, the Legislature has passed and the Executive branch has implemented multiple pieces of legislation that have provided property tax relief to Wyoming residents.” He noted that the new law clarifies the application of tax exemptions and secures essential funding for an expanded refund program initiated by the Legislature in 2024.
In addition to the tax measures, another bill modifies the method for calculating performance compensation in the state treasurer’s office. Previously based on the arithmetic average of investment performance over three fiscal years, the calculation will now employ the geometric average starting in fiscal year 2026, a shift aimed at enhancing the accuracy of performance assessments.
The Governor has until midnight Friday to act on the remaining bills on his desk. The signed bills include notable titles such as "Property Tax Exemptions-Order of Application" and "Performance Compensation-Investment Performance Amendment." Stakeholders can track the status of the legislation through the provided resources, which detail the bills signed, those that became law without his signature, and any vetoes.
These legislative changes represent the administration’s commitment to fiscal responsibility and support for Wyoming residents amidst ongoing economic challenges.
Note: The image is for illustrative purposes only and is not the original image associated with the presented article. Due to copyright reasons, we are unable to use the original images. However, you can still enjoy the accurate and up-to-date content and information provided.
