Real estate transfer tax dies in House

From the Wyoming News Exchange

JACKSON (WNE) — A bill to give Wyoming counties the ability to institute real estate transfer taxes failed an introduction vote 19-40 on Wednesday morning in the state House of Representatives.

Democrats in the chamber, including two from Teton County who have pushed for the measure, are outnumbered 7 to 51.

During a budget session like this year’s legislative session, a non-budget bill can be introduced in the Wyoming House or Senate only by a two-thirds majority vote.

Following the county’s record-setting $2.93 billion in real estate sales in 2021, Rep. Mike Yin, D-Jackson, said the bill was his No. 1 priority going into the session.

All three Teton County representatives voted in favor of the bill, which would allow counties to consider a 1% tax for any value in a sale above $1.5 million if voters approved the measure.

This past December was the first year the joint Revenue Committee advanced the bill.

Rep. Andy Schwartz, D-Jackson, introduced the bill, and this is his fifth year lobbying for it.

“We have such a severe disconnect in the capacity to provide housing for the workforce, we need to generate significant revenue,” Schwartz said. “We need tens of millions of dollars on a yearly basis to have any impact on the situation.”


This story was published on Feb. 17.


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