Frannie, Wyoming Property Taxes
The median property tax rate in Frannie, Wyoming is 0.70%, slightly higher than the state median of 0.65% but lower than the national median of 0.99%. With a median home value of $61,454 in Frannie, the typical annual property tax bill amounts to $431, significantly below the national median of $2,690. Property taxes in Frannie are calculated based on the assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Frannie'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 Frannie or another part of Park County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Frannie, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$430
Ownwell’s Frannie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frannie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frannie 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 Frannie, Wyoming
Property taxes in Frannie, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frannie is 0.61%, significantly lower than both the Wyoming state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Frannie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frannie 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 Frannie's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82423 zip code has the highest median property tax rate of 0.61%, while the same zip code also has the lowest median tax rate of 0.61%. Understanding how these cities compare with Frannie provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frannie Tax Rate
0.70%
Average Park County Tax Rate
0.67%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frannie, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | 0.64% | 0.66% | 0.70% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Frannie, Wyoming
In Frannie, 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 Park 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 Frannie, 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 Frannie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 82423 at $431, while the lowest median tax bill is also in 82423 at $431.
Average Frannie Assessed Value
$61,454
Average Park County Assessed Value
$362,988
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frannie, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | $6,208 | $14,006 | $61,454 | $114,424 | $197,985 |
Source: Ownwell
Property Tax Bills Across Frannie, Wyoming
In Frannie, WY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. For instance, in Park County, the median home price is $61,454. Homeowners in Frannie can expect their property tax bills to vary significantly, with the 25th percentile at $99 and the 75th percentile reaching $785. At the 90th percentile, property tax bills can be as high as $1,269. These tax bills are influenced by multiple factors, including the home's assessed value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Frannie offers relatively low property tax bills, making it an attractive location for homeowners. However, the variability in tax bills means that individual circumstances can lead to significantly different financial obligations. Understanding these factors can help homeowners better manage their property tax responsibilities.
Average Frannie Tax Bill
$431
Average Park County Tax Bill
$2,484
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Frannie, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | $44 | $99 | $431 | $785 | $1,269 |
Source: Ownwell