Wyoming Vets to benefit from new law
More eligible for a property tax break and enhanced benefits
by Wyoming Department of Revenue
March 7, 2007
(Cheyenne, Wyoming) - More of Wyoming’s veterans will be eligible for a property tax break - and could receive enhanced benefits - as the result of a bill passed by the Wyoming Legislature and signed into law by Governor Dave Freudenthal. House Enrolled Act 70, signed by the Governor on Feb. 23, takes effect immediately and applies to property taxes assessed for tax year 2007 forward.
Among the changes are an increase - from $2,000 to $3,000 - in the annual assessed value exemption, and removal of the $800 lifetime benefit cap for a qualifying veteran. In addition, a disabled veteran with a compensable service-connected disability certified by the Veterans Administration or a branch of the armed forces is now eligible for the program whether or not they are a combat veteran.
Under the revised law, the exemption for property shall only apply to the principal residence of the veteran or qualifying surviving spouse, and shall be claimed by the veteran or qualifying surviving spouse in not more than one county in Wyoming. This means that a qualifying veteran may not claim the exemption in multiple counties in a single tax year. Other minor changes effected by HEA70 include revision of the dates of World War II to include Dec. 7, 1941, and rendering of language in the statute to be “gender-neutral”
Probably the most important feature of HEA70 is that qualifying veterans who had previously exhausted their $800 lifetime benefit maynow reenter the program.
The general qualification requirements have not changed significantly. Honorably discharged veterans of WWI, WWII, Korea, Viet Nam, or honorably discharged veterans who were awarded the armed forces expeditionary medal or other authorized service or campaign medal indicating service for the United States in any armed conflict in a foreign country may qualify for the program, along with surviving spouses of qualifying veterans. (A list of medals may be accessed on the web at
http://revenue.state.wy.us/PortalVBVS/uploads/QualifiedMedals.pdf).
Surviving spouses of qualifying veterans may continue to qualify for the program unless the surviving spouse moves out of Wyoming or remarries. A three-year Wyoming residency requirement must also be met to qualify for the exemption.
Taxes for which the exemption may be used are property taxes on the veteran’s or surviving spouse’s principal residence and/or motor vehicle registration fees. In either case, the law requires that only the claimant or the claimant’s spouse owns the property or that the property is the subject of a trust created by and for the benefit of the claimant or the claimant’s spouse.
For an applicant to qualify for the Veteran’s Property Tax Exemption, Wyoming law requires that a written sworn application be filed with the County Assessor each year. Applications for 2007 should be available at the local County Assessor’s and County Treasurer’s office shortly.
For additional information about the exemption and for application deadlines, please contact your local County Assessor or County Treasurer.
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