Homestead exemption.

HB 54 creates a property tax exemption for Wyoming homeowners, reducing taxes on the first $100,000 of value for primary residences. To qualify, owners must claim the exemption annually by May 4th with the county assessor, proving the property is their main home (where they live most of the year). The exemption expires December 31, 2029, and the state will reimburse counties $31 million for lost tax revenue through 2025. This directly affects homeowners with primary residences valued under $100,000, lowering their annual property tax bills.