The following Letters to the Editor appeared in the July 22, 2026 edition of the Star Valley Independent.

 

Opinion: Am I Being Taxed on Unrealized Gains?

By Amber Hyde

Disclaimer: The following article is protected speech under the First Amendment to the United States Constitution and reflect the author’s opinions based on publicly available, information and legislative proceedings.

Suppose I bought my Wyoming home in 2009 for $60,000. I never sold it. I never refinanced it. I never received a check because its value increased. Yet today the county says it’s worth $246,000, and my property taxes rise as though I made that money.

Did I?

No.

Wyoming law requires property to be assessed at its fair market value. Our statutes define fair market value as the amount “a well-informed buyer is justified in paying” and “a well-informed seller is justified in accepting” in an open market.

That definition raises an even bigger question.

Am I being taxed on unrealized gains?

If my home isn’t for sale, no buyer has made an offer, and no sale has taken place, I haven’t realized a gain. I haven’t received any cash. Yet every year the county estimates what my home might sell for, and my tax bill reflects that estimate.

If my stock portfolio doubles in value, I generally don’t owe capital gains tax until I sell. So why is my home different?

Is government taxing what I actually own today—or what someone believes I could receive if I sold tomorrow?

According to Wyoming by the Numbers, our state remains one of the strongest financially in the nation, with billions of dollars in assets and reserves. Yet many Wyoming families, especially retirees living on fixed incomes, continue to face property tax increases despite receiving no additional income from their homes.

The debate doesn’t end with the statutes.

Wyoming’s Department of Revenue has adopted Chapter 9 rules that require counties to use the RealWare Computer Assisted Mass Appraisal (CAMA) system and other standardized appraisal methods to estimate property values.

But here’s the question every homeowner should ask:

Can the county clearly explain how my home’s value was calculated?

If I appeal my assessment, can the math behind my individual valuation be independently verified and understood, or am I simply expected to accept the result because the computer says so?

This isn’t just a Wyoming conversation. Texas property owner Mitchell Vexler has spent years challenging mass appraisal practices and has made court filings, evidence, and research publicly available through Mockingbird Properties. Whether you agree with his arguments or not, his work encourages taxpayers to ask questions and examine the evidence for themselves.

This isn’t an argument against funding local government. It’s an argument for transparency. Wyoming Statutes W.S. 39-11-101(a)(vi) and W.S. 39-13-103(b)(ii) define fair market value and guide how property is assessed. Readers can also review the Department of Revenue’s Chapter 9 rules on property tax valuation methodology for more detail.

Before we accept that this is the only way to value property, perhaps every Wyoming homeowner should read our statutes, read Chapter 9, and ask one simple question:

Can government clearly show me how it arrived at the number on my tax bill?

Paid for by Amber Hyde

 

Race for Governor

Dear Editor

Please allow me to make a couple of observations on the race for Governor. The first question is really, “What am I looking for in the top office in our great state? Do I want a true conservative, a moderate conservative, or someone who is more liberal?

I would like a Governor who is concerned about taxes (mainly property taxes). In looking at the websites for the candidates, I did not find any mention of taxes AT All on Eric Barlow site. I did ask Eric about his position on property taxes and he said this matter has been worked on already in the legislature and there is the upcoming ballot initiative in November to change the constitution regarding property tax and that he is against this initiative. Very interesting I thought. Brent Bien has a huge section on his website that talks about his stance and plans for taxes in Wyoming if he is elected. I was very pleased with his proposals and ideas to lower taxes in our state. A voter should check out his website. I looked at the website for Megan Degenfelder and she mentions taxes in a very brief passing thought, but at least she mentioned it.

In my humble opinion, Brent Bien has his thinking geared towards being a conservative and a person who will listen to the good folks in Wyoming and take heed to our needs. If you want lower taxes, then Brent appears to be the best choice.

Be sure to vote on August 18

Respectfully,

T. Deb Wolfley