Carpenter, Wyoming Property Taxes
The median property tax rate in Carpenter, WY is 0.57%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Carpenter, the typical annual property tax bill reaches $1,460, significantly below the national median of $2,690. Property taxes in Carpenter 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 Carpenter'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 Carpenter or another part of Laramie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Carpenter, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.57%
Estimate Property Tax Bill
$1,585
Ownwell’s Carpenter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Carpenter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Carpenter 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 Carpenter, Wyoming
Property taxes in Carpenter, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Carpenter is 0.57%, which is significantly lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Carpenter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Carpenter 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 Carpenter's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82054 zip code has the highest median property tax rate of 0.57%, while it also has the lowest median tax rate of 0.57%. Understanding how these cities compare with Carpenter 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 Carpenter Tax Rate
0.57%
Average Laramie County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Carpenter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82054 | 0.46% | 0.52% | 0.57% | 0.60% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Carpenter, Wyoming
In Carpenter, 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 Carpenter, 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 Carpenter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 82054 has both the highest and lowest median tax bill, standing at $1,460, which is significantly lower than the national median property tax rate of 0.99%.
Average Carpenter Assessed Value
$278,052
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 Carpenter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82054 | $14,925 | $119,238 | $278,052 | $398,779 | $523,001 |
Source: Ownwell
Property Tax Bills Across Carpenter, Wyoming
In Carpenter, located in Laramie County, WY, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value, which is determined by the county assessor. Various factors influence the assessed value, including the property's location, size, and condition. Homeowners in Carpenter experience a range of property tax bills. The 25th percentile tax bill is around $582, while those at the 75th percentile pay about $2,161. The top 10% of property tax bills can reach up to $2,867. The median home price in Carpenter is $278,052, which provides a context for these tax amounts. Comparatively, the national median property tax rate is 0.99%, highlighting how local rates and property values influence tax bills. For homeowners, understanding these factors is crucial for financial planning and anticipating annual expenses. Property taxes directly impact the affordability and long-term investment potential of owning a home in Carpenter.
Average Carpenter Tax Bill
$1,460
Average Laramie County Tax Bill
$1,816
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Carpenter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82054 | $99 | $582 | $1,460 | $2,161 | $2,867 |
Source: Ownwell