Cokeville, Wyoming Property Taxes
The median property tax rate in Cokeville, WY is 0.65%, aligning with the Wyoming state median but significantly lower than the national median of 0.99%. With a median home value of $187,763 in Cokeville, the typical annual property tax bill amounts to $1,214, well under the national median of $2,690. Property taxes in Cokeville are calculated based on the assessed value, which is generally lower than the market value due to various exemptions such as the primary residence and agricultural exemptions. Navigating Cokeville's property tax system, leveraging available exemptions, and identifying opportunities for reductions can result in substantial annual savings. Whether you're in the heart of Cokeville or elsewhere in the area, understanding the local property tax system is beneficial for both homeowners and real estate investors.
Last Updated June 14, 2024
Cokeville, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,220
Ownwell’s Cokeville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cokeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cokeville 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 Cokeville, Wyoming
Property taxes in Cokeville, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cokeville is 0.65%, lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Cokeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cokeville 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 Cokeville's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83114 zip code has the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Cokeville provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cokeville Tax Rate
0.65%
Average Lincoln County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cokeville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83114 | 0.61% | 0.61% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Cokeville, Wyoming
In Cokeville, 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 Lincoln 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 Cokeville, 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 Cokeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 83114 has the highest and lowest median tax bill at $1,214.
Average Cokeville Assessed Value
$187,763
Average Lincoln County Assessed Value
$316,204
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cokeville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83114 | $26,966 | $96,338 | $187,763 | $369,039 | $604,647 |
Source: Ownwell
Property Tax Bills Across Cokeville, Wyoming
In Cokeville, WY, property tax bills are calculated based on the assessed value of a property, which is determined by the Lincoln County Assessor. The assessed value is a percentage of the market value of the home. With a median home price of $187,763, homeowners in Cokeville can expect a range of tax bills depending on various factors. The 25th percentile tax bill is approximately $600, while the 75th percentile tax bill reaches up to $2,311. For those at the 90th percentile, the tax bill can be as high as $3,697. These tax bills are influenced by multiple factors, including property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Cokeville's property taxes can be considered relatively moderate. Homeowners need to be aware of these costs as they can significantly impact annual expenses. Understanding how these taxes are calculated helps in better financial planning and ensures that property owners are not caught off guard by their tax obligations.
Average Cokeville Tax Bill
$1,214
Average Lincoln County Tax Bill
$2,068
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Cokeville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83114 | $175 | $600 | $1,214 | $2,311 | $3,697 |
Source: Ownwell