Buford, Wyoming Property Taxes
The median property tax rate in Buford, Wyoming is 0.52%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Buford at $119,550, the typical annual property tax bill is $611, well below the national median of $2,690. Property taxes in Buford are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Buford'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 Buford 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
Buford, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$622
Ownwell’s Buford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buford 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 Buford, Wyoming
Property taxes in Buford, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buford is 0.52%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Buford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buford 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 Buford's effective property tax rate to other areas in Wyoming and the national median. For comparison, the zip code 82052 has both the highest and lowest median property tax rate of 0.52%, mirroring Buford's rate. Understanding how these areas compare with Buford provides valuable insights into the varying tax landscape across Laramie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buford Tax Rate
0.52%
Average Laramie County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | 0.45% | 0.50% | 0.52% | 0.56% | 0.60% |
Source: Ownwell
Property Tax Assessment Values Across Buford, Wyoming
In Buford, 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 Laramie 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 Buford, 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 Buford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in Buford is $611, specifically in the 82052 zip code.
Average Buford Assessed Value
$119,550
Average Laramie County Assessed Value
$308,008
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | $85,664 | $95,561 | $119,550 | $189,577 | $282,345 |
Source: Ownwell
Property Tax Bills Across Buford, Wyoming
In Buford, WY, property tax bills are calculated based on the assessed value of your home, which is determined by the Laramie County Assessor. The assessed value is a percentage of the market value of your property. Once the assessed value is established, the local tax rate is applied to calculate your annual property tax bill. The tax rate in Buford is influenced by various factors, including local government budgets, school funding, and public services. For homeowners in Buford, the median home price is $119,550. Property tax bills can vary significantly, with the 25th percentile at $485 and the 75th percentile at $993. At the 90th percentile, taxes can reach up to $1487. The highest and lowest median tax bills in the area are both $611, found in the 82052 zip code. Compared to the national median property tax rate of 0.99%, Buford's tax rates can impact homeowners differently depending on their property's assessed value and the specific local tax rate applied.
Average Buford Tax Bill
$611
Average Laramie County Tax Bill
$1,816
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | $451 | $485 | $611 | $993 | $1,487 |
Source: Ownwell