Wheatland, Wyoming Property Taxes
The median property tax rate in Wheatland, WY is 0.62%, which is notably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $85,108 in Wheatland, the typical annual property tax bill amounts to $993, significantly below the national median of $2,690. Property taxes in Wheatland are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Wheatland's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Wheatland or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wheatland, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$528
Ownwell’s Wheatland Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wheatland with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wheatland to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wheatland, Wyoming
Property taxes in Wheatland, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wheatland is 0.58%, which is lower than both the Wyoming state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Wheatland set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wheatland estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Wheatland's effective property tax rate to other counties in Wyoming and the national median. For comparison, the highest median property tax rate in Wyoming is 0.68%, while the lowest median tax rate is 0.53%. Understanding how these cities compare with Wheatland provides valuable insights into the varying tax landscape across Albany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wheatland Tax Rate
0.62%
Average Albany County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wheatland, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82201 | 0.62% | 0.62% | 0.62% | 0.62% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Wheatland, Wyoming
In Wheatland, Wyoming, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Albany County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Wheatland, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest and lowest median tax bills in Wheatland are both $993.00, found in zip code 82201. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wheatland Assessed Value
$85,108
Average Albany County Assessed Value
$294,660
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wheatland, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82201 | $6,722 | $21,624 | $85,108 | $184,589 | $428,343 |
Source: Ownwell
Property Tax Bills Across Wheatland, Wyoming
In Wheatland, Albany County, WY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For homeowners in Wheatland, the median home price is $85,108. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. This process involves various factors, including the property's location, size, and any applicable exemptions. The tax bill can significantly impact homeowners. For instance, those in the 25th percentile of tax bills pay around $562 annually, while those in the 75th percentile face a bill of approximately $1,877. The top 10% of taxpayers can see bills as high as $3,776. These figures highlight the range of property tax burdens within the area. Comparatively, the national median property tax rate is 0.99%, which gives context to the local rates. Understanding how these factors interplay helps homeowners anticipate their financial obligations and plan accordingly.
Average Wheatland Tax Bill
$993
Average Albany County Tax Bill
$2,125
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Wheatland, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82201 | $372 | $562 | $993 | $1,877 | $3,776 |
Source: Ownwell