Leiter, Wyoming Property Taxes
The median property tax rate in Leiter, WY is 0.56%, significantly lower than both the national median of 0.99% and Wyoming's state median of 0.65%. With the median home value in Leiter at $381,630, the typical annual property tax bill amounts to $2,184, which is below the national median of $2,690. Property taxes in Leiter 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 Leiter'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 Leiter or another part of Sheridan County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Leiter, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.56%
Estimate Property Tax Bill
$2,137
Ownwell’s Leiter Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Leiter with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Leiter 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 Leiter, Wyoming
Property taxes in Leiter, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Leiter is 0.56%, lower than the U.S. national median of 0.99%. Local government entities within Leiter set these rates annually, and they can vary significantly across different neighborhoods. Each year, Leiter 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 Leiter's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82837 has the highest median property tax rate of 0.56%, while the same zip code also has the lowest median tax rate of 0.56%. Understanding how these cities compare with Leiter provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Leiter Tax Rate
0.56%
Average Sheridan County Tax Rate
0.64%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Leiter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82837 | 0.53% | 0.55% | 0.56% | 0.58% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Leiter, Wyoming
In Leiter, 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 Sheridan 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 Leiter, 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 Leiter helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Leiter is $381,630, with the lowest median tax bill being $2,184 in the 82837 zip code.
Average Leiter Assessed Value
$381,630
Average Sheridan County Assessed Value
$337,055
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Leiter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82837 | $8,407 | $25,676 | $381,630 | $1,732,492 | $4,020,108 |
Source: Ownwell
Property Tax Bills Across Leiter, Wyoming
In Leiter, Sheridan County, WY, property tax bills are calculated based on the assessed value of a property, which is a percentage of its market value. The county assessor determines the assessed value by evaluating the property's characteristics and market conditions. Once the assessed value is established, the local tax rate, or mill levy, is applied to calculate the property tax bill. Homeowners in Leiter experience varying tax bills depending on their property's value. For instance, the 25th percentile tax bill is $147, which is significantly lower than the national median property tax rate of 0.99%. On the higher end, the 90th percentile tax bill reaches $25,176, illustrating the range of property values and tax obligations in the area. These property taxes fund essential local services such as schools, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners must stay informed about their property's assessed value and any changes in the local tax rate to anticipate their annual tax obligations accurately.
Average Leiter Tax Bill
$2,184
Average Sheridan County Tax Bill
$2,226
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Leiter, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82837 | $45 | $147 | $2,184 | $9,732 | $25,176 |
Source: Ownwell