Newcastle, Wyoming Property Taxes
The median property tax rate in Newcastle, WY is 0.66%, slightly higher than the Wyoming state median of 0.65% but still below the national median of 0.99%. With the median home value in Newcastle at $412,667, the typical annual property tax bill reaches $2,705, which is just under the national median of $2,690. Property taxes in Newcastle are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newcastle'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 Newcastle 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
Newcastle, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,724
Ownwell’s Newcastle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Newcastle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcastle 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 Newcastle, Wyoming
Property taxes in Newcastle, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcastle is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Newcastle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcastle 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 Newcastle’s effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82701 zip code has both the highest and lowest median property tax rate of 0.66%. Understanding how these areas compare with Newcastle provides valuable insights into the varying tax landscape across Niobrara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcastle Tax Rate
0.66%
Average Niobrara County Tax Rate
0.70%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Newcastle, Wyoming
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Newcastle, 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 for tax purposes by the local assessment authority. 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 Newcastle, 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 Newcastle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Newcastle, the median home price is $412,667. The 25th percentile tax bill is $1,746, while the 75th percentile tax bill is $3,158, and the 90th percentile tax bill is $3,430. The highest and lowest median tax bills in the area are both $2,705, found in zip code 82701.
Average Newcastle Assessed Value
$412,667
Average Niobrara County Assessed Value
$88,394
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $178,460 | $266,288 | $412,667 | $481,806 | $523,290 |
Source: Ownwell
Property Tax Bills Across Newcastle, Wyoming
In Newcastle, Wyoming, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, reflecting its worth in the current real estate market. Once the assessed value is established, the local tax rate is applied to calculate the annual tax bill. Several factors influence the tax bill, including the property's location, size, and condition. In Newcastle, the tax bills can vary significantly, with the 25th percentile at $1,746 and the 75th percentile at $3,158. Homeowners in the 90th percentile face tax bills as high as $3,430. Compared to the national median property tax rate of 0.99%, Newcastle's rates are competitive, offering a balanced approach to property taxation. These tax bills impact homeowners by contributing to local services such as schools, infrastructure, and emergency services, ensuring that the community remains well-maintained and supported. Understanding these factors helps homeowners anticipate their tax obligations and manage their finances accordingly.
Average Newcastle Tax Bill
$2,705
Average Niobrara County Tax Bill
$603
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $1,170 | $1,746 | $2,705 | $3,158 | $3,430 |
Source: Ownwell