Wolf, Wyoming Property Taxes
The median property tax rate in WOLF, WY is 0.63%, which is lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $1,414,832 in WOLF, the typical annual property tax bill reaches $8,938, significantly exceeding the national median of $2,690. Property taxes in WOLF are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding WOLF'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 WOLF 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
Wolf, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.63%
Estimate Property Tax Bill
$8,913
Ownwell’s WOLF Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in WOLF with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in WOLF 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 Wolf, Wyoming
Property taxes in Wolf, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wolf is 0.63%, lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Wolf set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wolf 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 Wolf's effective property tax rate to other areas in Wyoming and the national median. For comparison, the highest median property tax rate in Sheridan County is also 0.63% in the zip code 82844, while the lowest median tax rate is similarly 0.63% in the same zip code. Understanding how these figures compare with Wolf 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 Wolf Tax Rate
0.63%
Average Sheridan County Tax Rate
0.64%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wolf, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82844 | 0.55% | 0.56% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Wolf, Wyoming
In WOLF, 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 WOLF, 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. For instance, the median home price is $1,414,832, with tax bills ranging from $7,298 at the 25th percentile to $19,970 at the 90th percentile. The highest and lowest median tax bills are both $8,938 in zip code 82844. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Wolf Assessed Value
$1,414,832
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 Wolf, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82844 | $855,803 | $1,228,272 | $1,414,832 | $1,923,780 | $3,160,993 |
Source: Ownwell
Property Tax Bills Across Wolf, Wyoming
In Wolf, Sheridan County, WY, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in Wolf is $1,414,832, significantly higher than the national median. Homeowners in Wolf can expect property tax bills to vary widely. For instance, the tax bill at the 25th percentile is $7,298, while at the 75th percentile, it rises to $11,566, and at the 90th percentile, it reaches $19,970. These variations are influenced by factors such as property size, location, and improvements. The assessed value is multiplied by the local tax rate to determine the tax bill. With the national median property tax rate at 0.99%, homeowners in Wolf may face a higher rate due to the higher property values. This affects homeowners by increasing their annual expenses, which can impact their overall financial planning and housing affordability. The highest and lowest median tax bills in Wolf are both $8,938, indicating a relatively consistent tax burden within the city.
Average Wolf Tax Bill
$8,938
Average Sheridan County Tax Bill
$2,226
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Wolf, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82844 | $4,716 | $7,298 | $8,938 | $11,566 | $19,970 |
Source: Ownwell