Mcfadden, Wyoming Property Taxes
The median property tax rate in McFadden, WY is 0.47%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in McFadden at $82,909, the typical annual property tax bill is $398, significantly below the national median of $2,690. Property taxes in McFadden are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding McFadden'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 McFadden 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
Mcfadden, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$390
Ownwell’s MCFADDEN Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in MCFADDEN with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in MCFADDEN 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 Mcfadden, Wyoming
Property taxes in McFadden, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in McFadden is 0.47%, lower than both the Wyoming state median of 0.61% and the U.S. national median of 0.99%. Local government entities within McFadden set these rates annually, and they can vary significantly across different neighborhoods. Each year, McFadden 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 McFadden's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82083 zip code has both the highest and lowest median property tax rate of 0.47%. Understanding how these cities compare with McFadden provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mcfadden Tax Rate
0.47%
Average Carbon County Tax Rate
0.58%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mcfadden, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82083 | 0.39% | 0.45% | 0.47% | 0.47% | 0.49% |
Source: Ownwell
Property Tax Assessment Values Across Mcfadden, Wyoming
In McFadden, 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 Carbon 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 McFadden, 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. The median home price in McFadden is $82,909, with tax bills ranging from $214 at the 25th percentile to $590 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 82083, with a median tax bill of $398. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in McFadden helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Mcfadden Assessed Value
$82,909
Average Carbon County Assessed Value
$141,657
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mcfadden, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82083 | $31,338 | $58,166 | $82,909 | $118,057 | $140,386 |
Source: Ownwell
Property Tax Bills Across Mcfadden, Wyoming
Property tax bills in McFadden, located in Carbon County, Wyoming, are determined by assessing the value of a property and applying the local tax rate. The median home price in McFadden is $82,909. The assessed value is then multiplied by the county's property tax rate to calculate the tax bill. In McFadden, the tax bill varies significantly, with the 25th percentile at $214, the 75th percentile at $555, and the 90th percentile at $590. Several factors influence these variations, including property size, location, and any applicable exemptions. Homeowners in McFadden face a property tax rate that can be compared to the national median property tax rate of 0.99%. Understanding these factors is crucial for homeowners to anticipate their annual tax obligations. This variability in tax bills can impact household budgets and overall affordability, making it essential for homeowners to stay informed about their property’s assessed value and any potential changes in tax rates.
Average Mcfadden Tax Bill
$398
Average Carbon County Tax Bill
$819
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Mcfadden, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82083 | $128 | $214 | $398 | $555 | $590 |
Source: Ownwell