Encampment, Wyoming Property Taxes
The median property tax rate in Encampment, WY is 0.47%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Encampment at $140,980, the typical annual property tax bill amounts to $673, well below the national median of $2,690. Property taxes in Encampment 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 Encampment'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 Encampment or another part of the county, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Encampment, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$663
Ownwell’s Encampment Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Encampment with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Encampment 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 Carbon County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Encampment, Wyoming
Property taxes in Encampment, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Encampment is 0.47%, significantly lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Encampment set these rates annually, and they can vary significantly across different neighborhoods. Each year, Encampment 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 Encampment's effective property tax rate to other areas in Wyoming and the national median. For comparison, the zip code 82325 has both the highest and lowest median property tax rate of 0.47%, underscoring the uniformity in tax rates within this region. Understanding how these areas compare with Encampment provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Encampment Tax Rate
0.47%
Average Carbon County Tax Rate
0.58%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Encampment, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82325 | 0.37% | 0.44% | 0.47% | 0.52% | 0.58% |
Source: Ownwell
Property Tax Assessment Values Across Encampment, Wyoming
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Encampment, Wyoming. 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 Carbon 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. 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 Encampment helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 82325 has both the highest and lowest median tax bill at $673.
Average Encampment Assessed Value
$140,980
Average Carbon County Assessed Value
$141,657
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Encampment, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82325 | $11,721 | $42,173 | $140,980 | $273,328 | $395,179 |
Source: Ownwell
Property Tax Bills Across Encampment, Wyoming
In Encampment, WY, property tax bills are determined by a combination of the assessed value of the property and the local tax rate set by Carbon County. The assessed value is typically a percentage of the property's market value, which is then multiplied by the local tax rate to calculate the annual tax bill. For instance, with a median home price of $140,980, homeowners in Encampment can expect varying tax bills depending on their property's assessed value and specific circumstances. Factors such as property improvements, neighborhood developments, and changes in market conditions can influence the assessed value. In Encampment, the tax bill at the 25th percentile is around $200, while at the 75th percentile, it rises to $1,276. For those at the 90th percentile, the tax bill can reach up to $1,931. This variability significantly impacts homeowners, with higher-valued properties incurring larger tax bills. Comparing these figures to the national median property tax rate of 0.99%, Encampment homeowners experience a relatively moderate range of property tax bills.
Average Encampment Tax Bill
$673
Average Carbon County Tax Bill
$819
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Encampment, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82325 | $65 | $200 | $673 | $1,276 | $1,931 |
Source: Ownwell