Albin, Wyoming Property Taxes
The median property tax rate in Albin, Wyoming is 0.60%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Albin, the typical annual property tax bill reaches $587, far below the national median of $2,690. Property taxes in Albin 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 Albin'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 Albin or another part of Laramie County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Albin, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.6%
Estimate Property Tax Bill
$612
Ownwell's Albin Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Albin with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Albin to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities, ensuring you are well-prepared. For those interested in more detailed trends at the neighborhood level, additional localized information is available below. Your property's assessed value is determined by the county for tax calculations and includes any applicable exemptions.
Property Tax Rates Across Albin, Wyoming
Property taxes in Albin, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Albin is 0.60%, lower than the U.S. national median of 0.99%. Local government entities within Albin set these rates annually, and they can vary significantly across different neighborhoods. Each year, Albin 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 Albin's effective property tax rate to other areas in Wyoming and the national median. For comparison, the 82050 zip code has the highest median property tax rate of 0.60%, while the 82050 zip code also has the lowest median tax rate of 0.60%. Understanding how these areas compare with Albin provides valuable insights into the varying tax landscape across Laramie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Albin Tax Rate
0.60%
Average Laramie County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Albin, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82050 | 0.51% | 0.57% | 0.60% | 0.62% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Albin, Wyoming
In Albin, 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 Laramie 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 Albin, 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 Albin 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 $587, found in the 82050 zip code.
Average Albin Assessed Value
$102,006
Average Laramie County Assessed Value
$308,008
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Albin, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82050 | $7,889 | $17,366 | $102,006 | $228,822 | $374,566 |
Source: Ownwell
Property Tax Bills Across Albin, Wyoming
In Albin, located in Laramie 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 Albin is $102,006. Property tax rates in this area are relatively low compared to the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's size, location, and condition. For example, homes in the 25th percentile have tax bills around $107, while those in the 75th percentile see bills closer to $1,198. The highest tax bills, in the 90th percentile, can reach up to $2,120. These property taxes fund essential local services such as schools, infrastructure, and public safety. Homeowners in Albin benefit from lower property tax rates, making it an attractive option for those looking to minimize their annual tax burden. The consistent property tax rate across the zip code 82050, which has a median tax bill of $587, further underscores the area's affordability.
Average Albin Tax Bill
$587
Average Laramie County Tax Bill
$1,816
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Albin, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82050 | $52 | $107 | $587 | $1,198 | $2,120 |
Source: Ownwell