Real Estate Tax Proposed

A cadre of legislators from Northwestern Wyoming have introduced a bill relating to taxation and revenue, providing for an excise tax on the sale of real property as specified, providing for distribution of the tax, requiring rulemaking, and imposing penalties.
Sponsored by Representatives Schwartz, Roscoe and Yin, along with Senator Gierau, the bill would allow a county to impose an excise tax on the sale of real property of any kind with the revenue from the tax to be used by the county in specific percentages for specific purposes as proposed for voter approval.
The tax would be based on the total amount of the real property sale, with none allowed for sales under $1-million, and 1% permitted for sales over a million. There are also some specific exemptions outlined in the bill. The bill has been introduced, but as yet has seen no action.

Jackson Hole Radio