060-4 Wyo. Code R. § 4-7

Current through April 27, 2019

Section 4-7 - Rentals for Conflicted Leases

(a) In no event shall the annual rental be less than the minimum rate established in Section 6(b).

(b) The maximum rental that may be accepted shall not be more than 120% of the maximum fair market value as determined by the board based on the previous year's values for the State, District or County, whichever is most localized and available, as determined by the National Agricultural Statistics Service utilizing:

• (i) The private land lease rate per AUM for Wyoming grazing leases; or

• (ii) The private land irrigated or nonirrigated cropland lease rate, as applicable, for Wyoming cropland leases on irrigated or nonirrigated cropland; and

• (iii) A downward adjustment of 20 percent to reasonably reflect lessee contributions typically provided as a part of a private land grazing lease rate or a private cropland lease rate, as applicable.

(c) The maximum rental bid shall constitute the annual rental for the entire term of the lease unless the minimum annual rental exceeds the conflict bid.

(d) All leases are subject to change upon reappraisal or reclassification of the land,

(e) Upon notice provided not less than thirty (30) days prior to the anniversary date of a lease, all rentals accruing to the state, except those for the first year, shall become due and payable at the Office on the anniversary date of the lease. If the rent is not paid on the anniversary date, the Director shall notify the lessee or his authorized agent by certified mail that the lease will be canceled if the rent and a late fee equal to ten percent (10%) of the annual rental is not received within thirty (30) days following the date of the notice. If the lease is canceled, the Director shall, thereafter, advertise the lands in the county where located, as vacant and subject to lease.

060-4 Wyo. Code R. § 4-7