Wright, Wyoming Property Taxes
The median property tax rate in Wright, WY is 0.74%, which is lower than the national median of 0.99% but higher than the Wyoming state median of 0.65%. With a median home value of $171,520 in Wright, the typical annual property tax bill amounts to $1,517, falling below the national median of $2,690. Property taxes in Wright are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Wright's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Wright or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Wright, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,269
Ownwell’s Wright Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wright with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wright 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 Wright, Wyoming
Property taxes in Wright, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wright is 0.74%, which is lower than the U.S. national median of 0.99%. Local government entities within Wright set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wright 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. Understanding how these cities compare with Wright provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wright Tax Rate
0.74%
Average Campbell County Tax Rate
0.67%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wright, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82732 | 0.74% | 0.74% | 0.74% | 0.74% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Wright, Wyoming
In Wright, 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 Campbell County Appraisal District 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 Wright, 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. The median home price in Wright is $171,520, with tax bills ranging from $1,257 at the 25th percentile to $2,106 at the 90th percentile. The zip code 82732 has the highest and lowest median tax bill at $1,517. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wright Assessed Value
$171,520
Average Campbell County Assessed Value
$220,988
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wright, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82732 | $7,607 | $17,834 | $171,520 | $223,060 | $263,740 |
Source: Ownwell
Property Tax Bills Across Wright, Wyoming
Property tax bills in Wright, located in Campbell County, WY, are calculated based on the assessed value of a property and the local tax rate. The assessed value is determined by the county assessor, who evaluates the market value of a property and then applies the state’s assessment ratio. In Wyoming, this ratio is typically 9.5% for residential properties. The resulting assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For example, with a median home price of $171,520 in Wright, the assessed value would be approximately $16,294. Calculating the tax bill involves applying the local tax rate to this assessed value. Homeowners in Wright can expect their property tax bills to vary, with the 25th percentile at $1,257 and the 75th percentile at $1,813. The tax bill at the 90th percentile reaches $2,106. These property taxes are crucial for funding local services and infrastructure, directly impacting the community's quality of life.
Average Wright Tax Bill
$1,517
Average Campbell County Tax Bill
$1,601
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Wright, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82732 | $804 | $1,257 | $1,517 | $1,813 | $2,106 |
Source: Ownwell