Lyman, Wyoming Property Taxes
The median property tax rate in Lyman, WY is 0.65%, aligning with the Wyoming state median but lower than the national median of 0.99%. With the median home value in Lyman at $151,466, the typical annual property tax bill amounts to $1,091, which is below the national median of $2,690. Property taxes in Lyman are calculated based on the tax assessed value, which often falls below the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Lyman'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 Lyman 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
Lyman, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$985
Ownwell’s Lyman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyman 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 Lyman, Wyoming
Property taxes in Lyman, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyman is 0.65%, which is lower than the U.S. national median of 0.99%. Local government entities within Lyman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyman 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 Lyman's effective property tax rate to other areas in Wyoming and the national median. For comparison, the zip code 82933 has the highest median property tax rate of 0.68%, while the zip code 82937 has the lowest median tax rate of 0.65%. Understanding how these areas compare with Lyman provides valuable insights into the varying tax landscape across Uinta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyman Tax Rate
0.65%
Average Uinta County Tax Rate
0.65%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyman, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82933 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
| 82937 | 0.60% | 0.60% | 0.65% | 0.65% | 0.65% |
| 82939 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Lyman, Wyoming
In Lyman, 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 Uinta 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 Lyman, 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 Lyman helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $1092 in zip code 82937, while the lowest is $167 in zip code 82939.
Average Lyman Assessed Value
$151,466
Average Uinta County Assessed Value
$195,156
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyman, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82933 | $102,233 | $102,233 | $102,233 | $102,233 | $102,233 |
| 82937 | $12,866 | $28,246 | $152,996 | $276,254 | $394,141 |
| 82939 | $25,893 | $25,893 | $25,893 | $25,893 | $25,893 |
Source: Ownwell
Property Tax Bills Across Lyman, Wyoming
In Lyman, property tax bills are calculated based on the assessed value of your home, which is determined by the Uinta County Assessor's office. This assessed value is a percentage of the market value of your property. Once the assessed value is established, it is multiplied by the local tax rate to determine the annual tax bill. The median home price in Lyman is $151,466, which gives homeowners a general idea of what their property might be worth. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. For example, the tax bill at the 25th percentile is around $221, while at the 75th percentile, it climbs to $1,781. At the 90th percentile, homeowners could see tax bills as high as $2,495. The highest median tax bill in the area is $1,092 in the 82937 zip code, while the lowest is $167 in the 82939 zip code. These variations significantly impact homeowners, affecting their annual budgeting and long-term financial planning.
Average Lyman Tax Bill
$1,091
Average Uinta County Tax Bill
$1,317
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyman, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82933 | $700 | $700 | $700 | $700 | $700 |
| 82937 | $90 | $221 | $1,092 | $1,783 | $2,497 |
| 82939 | $167 | $167 | $167 | $167 | $167 |
Source: Ownwell