011-14 Wyo. Code R. §§ 14-18 - Single-Family Residential - W.S.39-11-105(a)(xliii)-(xliv)
(a) The amount of
the exemption shall be any assessed value of the single-family residential
structure that is in excess of the prior year assessed value less any exemption
applied the prior year under this statute, plus four percent (4%).
(i) Calculation example:
|
2023 assessed value |
2024 maximum assessed value (4%) |
2024 original assessed value |
2024 assessed value exemption amount |
|
10,000 |
10,400 |
11,000 |
600 |
|
2024 assessed value |
2025 maximum assessed value (4%) |
2025 original assessed value |
2025 assessed value exemption amount |
|
10,400 |
10,816 |
12,000 |
1,184 |
(b) Pursuant to the date set forth in
W.S.
39-11-105(a)(xliv) the
exemption applied to improved land associated with a single-family residential
structure shall be granted to land not used for commercial, industrial or
agricultural purposes.
(c) As used
in W.S.
39-11-105(a)(xliii)(D)
"Intended for human habitation" means any
structure or part thereof where persons reside, which is legally occupied in
whole or part in accordance with applicable building codes, and state and local
laws.
(d) As used in
W.S.
39-11-105(a)(xliii)(B)(I)
"New construction" means the first or initial
construction of a single-family residential structure.
(e) For new construction, the structure shall
be valued at full value for all years during construction until and including
the first year legally approved for human habitation.
(f) As used in
W.S.
39-11-105(a)(xliii)(B)(I)"Additions
to an existing structure" means an extension or increase in the floor area or
height of a single-family residential structure, or structural conversion of
previously uninhabitable structure to a structure legally approved for human
habitation.
(g) For additions to an
existing structure, the structure shall be valued at full value the assessment
year that additions are first included in the valuation of the single-family
residential structure.
Notes
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