Ralston, Wyoming Property Taxes
The median property tax rate in Ralston, Wyoming is 0.66%, slightly above the state median of 0.65% but below the national median of 0.99%. With a median home value of $191,362 in Ralston, the typical annual property tax bill reaches $1,268, which is significantly lower than the national median of $2,690. Property taxes in Ralston are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Ralston'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 Ralston 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
Ralston, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,263
Ownwell’s Ralston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ralston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ralston 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 Ralston, Wyoming
Property taxes in Ralston, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ralston is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Ralston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ralston 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 Ralston's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82440 has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Ralston 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 Ralston Tax Rate
0.66%
Average Park County Tax Rate
0.67%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ralston, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82440 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Ralston, Wyoming
In Ralston, 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 Ralston, 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 Ralston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $1,268, found in zip code 82440.
Average Ralston Assessed Value
$191,362
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 Ralston, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82440 | $36,780 | $126,335 | $191,362 | $253,514 | $385,588 |
Source: Ownwell
Property Tax Bills Across Ralston, Wyoming
In Ralston, WY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. For a median home price of $191,362, the assessed value is determined by local assessment rules. Homeowners in Ralston can expect their property tax bills to vary widely depending on the assessed value and the applicable tax rate. The 25th percentile of tax bills is around $837, while the 75th percentile reaches $1,638, showing significant variation. The highest median tax bill in the area is $1,268, affecting those in the 82440 zip code. These figures indicate that while some homeowners may face relatively modest tax bills, others could see substantially higher amounts. The variability in tax bills underscores the importance of understanding local assessment practices and advocating for fair valuations. Compared to the national median property tax rate of 0.99%, Ralston's property tax can be considered relatively manageable, but it still represents a significant annual expense for homeowners.
Average Ralston Tax Bill
$1,268
Average Park County Tax Bill
$2,484
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Ralston, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82440 | $244 | $837 | $1,268 | $1,638 | $2,555 |
Source: Ownwell