In Teton County, Wyoming, a property tax relief program has significantly expanded in 2022, sending out 292 checks with a 95% approval rate for applicants. The program, costing the county $864,592, provided an average of $2,960 per approved application. This is in addition to the state refund program, which granted $1.57 million to Teton County residents. The number of recipients increased notably from the previous year, reflecting the 35% increase in property values in Teton County in both 2022 and 2023. This surge in property values, largely due to the influx of home-buyers during the pandemic, has particularly impacted long-time locals with fixed incomes. Teton County, with the highest property values in Wyoming, adjusted its tax relief program to include households earning up to 125% of the median income, with a cutoff at $128,900. The denials were mostly due to excess assets or incomes exceeding the threshold.
Read more on Jackson Hole News & Guide here: https://www.jhnewsandguide.com/news/town_county/local/tax-relief-way-up-for-2023/article_5b986fb4-a4ee-11ee-9aff-9b2f4f4e7685.html
