CHEYENNE, Wyo. – Governor Mark Gordon's budget proposal emphasizes addressing inflationary pressures facing the people of Wyoming, saving for future generations, and making some strategic investments. His Administration added details to the budget proposal this week. Those details were presented in 21 supplemental budget letters to the Legislature's Joint Appropriations Committee (JAC) this week.
One key proposal is to offer property tax relief for Wyomingites most impacted by inflation, our seniors and those living on fixed incomes. "Many Wyoming low-to-moderate income households struggle to meet the increased burden of rising property taxes, especially those on fixed incomes. As established by the legislature, the Wyoming Property Tax Refund program is designed to help provide relief to our citizens most impacted by the regressive economic effects of inflation," noted Governor Gordon. "The Property Tax Relief program offers a hand-up for our seniors and low-income households struggling to make ends meet right now."
The Department of Revenue saw a record number of 2021 property tax refund applications, with nearly two-thirds of the biennium budget expended in the first year. In addition, Governor Gordon's proposed budget requested an additional one million to continue helping qualifying Wyoming households over the next year.
Supporting Wyoming's energy industry is a linchpin of Governor Gordon's supplemental budget proposal. "Wyoming has long been recognized as an energy leader, and we have an opportunity to be an advanced energy fountainhead through the 21st century," stated Governor Gordon. My goal is to leverage these funds to the greatest extent possible to benefit Wyoming's energy industry. This fund shows Wyoming's commitment to be available for the millions of dollars of federal funding from the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act for C02 capture, hydrogen hub and rare earth pilot and demonstration projects."
The Governor's budget letters and supplemental budget proposal can be viewed on the State Budget Department's website.
