Alcova, Wyoming Property Taxes
The median property tax rate in Alcova, WY is 0.64%, slightly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Alcova at $88,595, the typical annual property tax bill is $571, significantly below the national median of $2,690. Property taxes in Alcova 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 Alcova'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 Alcova 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
Alcova, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$567
Ownwell’s Alcova Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Alcova with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Alcova 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 Alcova, Wyoming
Property taxes in Alcova, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alcova is 0.64%, which is below the U.S. national median of 0.99%. Local government entities within Alcova set these rates annually, and they can vary across different neighborhoods. Each year, Alcova 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. Understanding how Alcova's effective property tax rate compares to other areas provides valuable insights into the varying tax landscape across Natrona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Alcova Tax Rate
0.64%
Average Natrona County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alcova, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82620 | 0.64% | 0.64% | 0.64% | 0.64% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Alcova, Wyoming
In Alcova, 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 Natrona 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 Alcova, 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 Alcova helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 82620 has the highest and lowest median tax bill at $571.00, reflecting the range of property tax experiences in the area.
Average Alcova Assessed Value
$88,595
Average Natrona County Assessed Value
$218,065
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alcova, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82620 | $5,311 | $35,202 | $88,595 | $246,538 | $460,250 |
Source: Ownwell
Property Tax Bills Across Alcova, Wyoming
In Alcova, WY, property tax bills are determined based on the assessed value of a home, which is a percentage of its market value. For instance, with a median home price of $88,595 in Natrona County, the assessed value is calculated by local assessors. Homeowners then apply the local tax rate to this assessed value to determine their annual tax bill. The tax rate in this area is relatively low, contributing to a median tax bill of $571.00, which is significantly lower than the national median property tax rate of 0.99%. Factors considered in determining the tax bill include the property's market value, its location, and any applicable exemptions. For example, the 25th percentile tax bill in Alcova is $225, while the 75th percentile reaches $1,590, and the 90th percentile can be as high as $2,968. These figures highlight the variability in tax bills depending on property values and other influencing factors. This system ensures that property taxes are proportionate to the value of the property, affecting homeowners by aligning their tax responsibilities with their property's worth.
Average Alcova Tax Bill
$571
Average Natrona County Tax Bill
$1,493
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Alcova, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82620 | $34 | $225 | $571 | $1,590 | $2,968 |
Source: Ownwell