Property tax limits.

SF 69 limits annual increases in property tax bills for most property owners in Wyoming by capping the growth of "taxable value" (9.5% of a property's fair market value) at 5% per year. This applies to homes, land, and personal property not in specific exempt categories, excluding increases from improvements or changes made to the property. The limit begins January 1, 2023, preventing sudden large jumps in tax bills due to general market fluctuations. The bill does not change Wyoming's 9.5% tax rate but restricts how quickly the base value used to calculate taxes can grow annually.