Gillette, Wyoming Property Taxes
The median property tax rate in Gillette, WY is 0.48%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Gillette, the typical annual property tax bill reaches $7,741, far exceeding the national median of $2,690. Property taxes in Gillette are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Gillette'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 Gillette 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
Gillette, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.48%
Estimate Property Tax Bill
$7,665
Ownwell’s Gillette Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Gillette with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Gillette 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 Gillette, Wyoming
Property taxes in Gillette, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Gillette is 0.48%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Gillette set these rates annually, and they can vary across different neighborhoods. Each year, Gillette 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 Gillette's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82718 has the highest median property tax rate of 0.48%, while the lowest median tax rate is also 0.48%. Understanding how these areas compare with Gillette provides valuable insights into the varying tax landscape across Converse County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Gillette Tax Rate
0.48%
Average Converse County Tax Rate
0.55%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Gillette, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82718 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
Source: Ownwell
Property Tax Assessment Values Across Gillette, Wyoming
In Gillette, 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 Converse 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 Gillette, 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. Being aware of these valuation processes in Gillette helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bills is 82718, with a median tax bill of $7,741.
Average Gillette Assessed Value
$1,596,979
Average Converse County Assessed Value
$211,678
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Gillette, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82718 | $1,596,979 | $1,596,979 | $1,596,979 | $1,596,979 | $1,596,979 |
Source: Ownwell
Property Tax Bills Across Gillette, Wyoming
In Gillette, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The assessed value is determined by the local assessor's office, taking into account factors such as property size, location, and condition. Once the assessed value is established, the local tax rate is applied to calculate the property tax bill. For homeowners in Gillette, the median home price is $1,596,979, which significantly impacts the property tax bill. The median tax bill in the area is $7,741, consistent across various percentiles, indicating a uniform tax rate application. Compared to the national median property tax rate of 0.99%, homeowners in Gillette face a relatively higher tax burden. This higher tax bill can affect homeowners by increasing their annual expenses, potentially influencing decisions on property investments and homeownership affordability. Understanding these factors can help homeowners better anticipate their financial responsibilities and plan accordingly.
Average Gillette Tax Bill
$7,741
Average Converse County Tax Bill
$1,193
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Gillette, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82718 | $7,741 | $7,741 | $7,741 | $7,741 | $7,741 |
Source: Ownwell