Granite Canon, Wyoming Property Taxes
The median property tax rate in Granite Canon, WY 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 Granite Canon at $415,036, the typical annual property tax bill amounts to $2,070, which is below the national median of $2,690. Property taxes in Granite Canon are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Granite Canon'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 Granite Canon 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
Granite Canon, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.52%
Estimate Property Tax Bill
$2,158
Ownwell’s Granite Canon Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Granite Canon with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Granite Canon 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 Granite Canon, Wyoming
Property taxes in Granite Canon, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Granite Canon is 0.52%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Granite Canon set these rates annually, and they can vary across different neighborhoods. Each year, Granite Canon 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 Granite Canon's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82059 zip code has both the highest and lowest median property tax rate of 0.52%, as it encompasses Granite Canon itself. Understanding how these rates compare with Granite Canon 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 Granite Canon 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 Granite Canon, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82059 | 0.46% | 0.50% | 0.52% | 0.55% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Granite Canon, Wyoming
In Granite Canon, 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 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 Granite Canon, 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 Granite Canon helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bill in the area is $2,070, found in the 82059 zip code.
Average Granite Canon Assessed Value
$415,036
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 Granite Canon, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82059 | $73,749 | $233,819 | $415,036 | $611,599 | $686,908 |
Source: Ownwell
Property Tax Bills Across Granite Canon, Wyoming
In Granite Canon, Laramie County, WY, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to determine the tax bill. Laramie County's median home price stands at $415,036, and the median property tax rate is competitive compared to the national median rate of 0.99%. Homeowners in Granite Canon can expect their tax bills to vary significantly. The 25th percentile tax bill is around $867, which is relatively low, providing some relief for those with less expensive properties. On the higher end, the 75th percentile tax bill reaches $2,991, and the 90th percentile can go up to $3,466. These variations highlight how property values and local tax rates can impact homeowners differently. Understanding these factors is crucial for homeowners to budget effectively and anticipate their annual property tax obligations.
Average Granite Canon Tax Bill
$2,070
Average Laramie County Tax Bill
$1,816
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Granite Canon, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82059 | $370 | $867 | $2,070 | $2,991 | $3,466 |
Source: Ownwell