Powell, Wyoming Property Taxes
The median property tax rate in Powell, WY is 0.66%, slightly higher than the state median of 0.65% but lower than the national median of 0.99%. With the median home value in Powell at $314,532, the typical annual property tax bill is $2,145, which is below the national median of $2,690. Property taxes in Powell are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Powell'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 Powell 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
Powell, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$2,076
Ownwell’s Powell Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Powell with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Powell 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 Powell, Wyoming
Property taxes in Powell, Wyoming, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Powell is 0.66%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Powell set these rates annually, and they can vary significantly across different neighborhoods. Each year, Powell 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 Powell's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82435 ZIP code has the highest median property tax rate of 0.66%, while it also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Powell provides valuable insights into the varying tax landscape across Park County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Powell Tax Rate
0.66%
Average Park County Tax Rate
0.67%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Powell, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82435 | 0.63% | 0.66% | 0.66% | 0.71% | 0.71% |
Source: Ownwell
Property Tax Assessment Values Across Powell, Wyoming
In Powell, 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 Park 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 Powell, 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 Powell helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, in the 82435 zip code, the median tax bill is $2145, which is representative of both the highest and lowest median tax bills in the area.
Average Powell Assessed Value
$314,532
Average Park County Assessed Value
$362,988
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Powell, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82435 | $39,852 | $193,940 | $314,532 | $445,942 | $624,742 |
Source: Ownwell
Property Tax Bills Across Powell, Wyoming
In Powell, located in Park County, WY, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of the market value. The tax rate is applied to this assessed value to determine the annual property tax bill. Factors such as property size, location, and improvements can influence the assessed value. For homeowners in Powell, the median home price is $314,532, and the property tax bills can vary significantly. At the 25th percentile, tax bills are around $1,320, while at the 75th percentile, they rise to approximately $3,003. The 90th percentile sees even higher tax bills, reaching up to $4,139. Compared to the national median property tax rate of 0.99%, Powell's tax bills can be relatively moderate or high, depending on the property's assessed value. This variation affects homeowners by impacting their annual financial planning and overall cost of homeownership.
Average Powell Tax Bill
$2,145
Average Park County Tax Bill
$2,484
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Powell, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82435 | $269 | $1,320 | $2,145 | $3,003 | $4,139 |
Source: Ownwell