realestate

Real Estate Group Invests $500k in Property Tax Advocacy Efforts

4 Wyoming" PAC invests in separating residential property from other assets as a tax reform solution.

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statewide real estate group has spent a significant amount of money on advertising in support of a constitutional amendment aimed at property tax reform. The 4 Wyoming PAC, affiliated with Wyoming Realtors, has spent around $544,000 since late September, an extraordinary amount for Wyoming elections.

    The amendment would create a fourth tier in the state's tax system by separating residential property from commercial and industrial properties. This change would make it easier for lawmakers to address surging property taxes in much of the state. Lawmakers set the amendment into motion in 2023 after realizing that the current system, which groups residential property with commercial and industrial properties, has largely prevented them from making isolated changes to how homes are taxed.

    Wyoming Realtors have long advocated for a fourth tier, believing it would benefit homeowners. "We believe in home ownership, and the homeowners of Wyoming do not really have an organization that represents them," said Laurie Urbigkit with the association. "So, we took on this responsibility."

    While some lawmakers have expressed support for the amendment, including Rep. Mike Yin (D-Jackson) and outgoing Sen. Anthony Bouchard (R-Cheyenne), others from the Wyoming Freedom Caucus have come out against it due to concerns that it could lead to increased taxes.

    The 4 Wyoming PAC has been the most organized and well-funded effort to weigh in on the measure, with contributions coming from individuals and the association itself. To be adopted, the amendment will need a majority of the total ballots cast in the general election.

    Historically, constitutional amendments have had mixed results in Wyoming, with voters approving 13 out of 22 since 2000. Early voting is underway, and the election is set for November 5.

Real estate group invests $500,000 in property tax advocacy efforts nationwide.