Business property exemption.

Wyoming's SF 48 creates a property tax exemption for small business owners who own business property valued at $50,000 or less in each county they operate. Specifically, if a business owner's total business property (excluding personal/family use items) is worth $2,400 or less statewide, their business property in each county is exempt from taxation. The exemption applies to taxable personal property, such as equipment or inventory, but excludes property already exempt under other rules. The bill takes effect on January 1, 2026.