Shoshoni, Wyoming Property Taxes
The median property tax rate in Shoshoni, WY is 0.73%, slightly lower than the national median of 0.99% but higher than the Wyoming state median of 0.65%. With the median home value in Shoshoni at $41,490, the typical annual property tax bill is $318, significantly below the national median of $2,690. Property taxes in Shoshoni are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Shoshoni'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 Shoshoni or another part of Fremont County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Shoshoni, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.73%
Estimate Property Tax Bill
$303
Ownwell’s Shoshoni Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Shoshoni with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Shoshoni to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more localized trends, additional neighborhood-level information is available further down the page. 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 Shoshoni, Wyoming
Property taxes in Shoshoni, Wyoming, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Shoshoni is 0.73%, which is lower than the U.S. national median of 0.99%. Local government entities within Shoshoni set these rates annually, and they can vary significantly across different neighborhoods. Each year, Shoshoni 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 Shoshoni's effective property tax rate to other areas in Fremont County and the national median. For comparison, the 82649 zip code has both the highest and lowest median property tax rate of 0.73%. Understanding how these areas compare with Shoshoni provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Shoshoni Tax Rate
0.73%
Average Fremont County Tax Rate
0.72%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Shoshoni, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82649 | 0.69% | 0.70% | 0.73% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Shoshoni, Wyoming
In Shoshoni, 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 Fremont 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 Shoshoni, 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 Shoshoni is $41,490, with tax bills varying significantly based on property values. For example, the 25th percentile tax bill is $99, while the 75th percentile tax bill reaches $1,167. The highest median tax bill in the area is $318, found in the 82649 zip code. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Shoshoni Assessed Value
$41,490
Average Fremont County Assessed Value
$184,535
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Shoshoni, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82649 | $6,832 | $13,179 | $41,490 | $152,866 | $379,885 |
Source: Ownwell
Property Tax Bills Across Shoshoni, Wyoming
In Shoshoni, property tax bills are calculated based on the assessed value of a home, which is determined by the Fremont County Assessor. This assessed value is a percentage of the home's market value. The property tax rate in Shoshoni is applied to this assessed value to determine the annual tax bill. Factors such as local government budgets, school funding, and public services influence the tax rate. For homeowners in Shoshoni, the median home price is $41,490. Property tax bills can vary significantly, with the 25th percentile tax bill at $99 and the 75th percentile reaching $1,167. At the 90th percentile, homeowners may see tax bills as high as $2,699. Compared to the national median property tax rate of 0.99%, Shoshoni's rates can be relatively low, making it an attractive location for homeowners looking for affordable property taxes. However, it's important for homeowners to budget for these costs as part of their overall housing expenses.
Average Shoshoni Tax Bill
$318
Average Fremont County Tax Bill
$1,362
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Shoshoni, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82649 | $50 | $99 | $318 | $1,167 | $2,699 |
Source: Ownwell