Reliance, Wyoming Property Taxes
The median property tax rate in Reliance, Wyoming is 0.72%, which is lower than the national median of 0.99% but higher than the Wyoming state median of 0.65%. With a median home value of $90,846 in Reliance, the typical annual property tax bill amounts to $651, significantly less than the national median of $2,690. Property taxes in Reliance are determined based on the tax assessed value, which is often lower than the market value due to exemptions such as those for primary residences and agricultural properties. By understanding Reliance's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve substantial annual savings. Whether you're residing in the heart of Reliance or elsewhere in the city, a thorough grasp of the local property tax system is essential for maximizing financial benefits.
Last Updated June 14, 2024
Reliance, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.72%
Estimate Property Tax Bill
$654
Ownwell’s Reliance Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Reliance with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Reliance 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 Reliance, Wyoming
Property taxes in Reliance, Wyoming, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in Reliance is 0.72%, which is lower than the U.S. national median of 0.99%. Local government entities within Reliance set these rates annually, and they can vary significantly across different neighborhoods. Each year, Reliance 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 Reliance's effective property tax rate to other areas in Wyoming and the national median. For comparison, the zip code 82943 has both the highest and lowest median property tax rate in the region, standing at 0.72%. Understanding how these areas compare with Reliance provides valuable insights into the varying tax landscape across Sweetwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Reliance Tax Rate
0.72%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Reliance, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82943 | 0.60% | 0.67% | 0.72% | 0.72% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Reliance, Wyoming
In Reliance, 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 Sweetwater 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 Reliance, 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 Reliance helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in the area is $651.00 in the 82943 zip code, which also has the lowest median tax bill of $651.00.
Average Reliance Assessed Value
$90,846
Average Sweetwater County Assessed Value
$192,526
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Reliance, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82943 | $9,335 | $26,048 | $90,846 | $123,199 | $156,971 |
Source: Ownwell
Property Tax Bills Across Reliance, Wyoming
In Reliance, Sweetwater County, WY, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The local tax rate is applied to this assessed value to determine the tax bill. For example, with a median home price of $90,846, the tax bill for homeowners can vary significantly. At the 25th percentile, the tax bill is around $177, while at the 75th percentile, it rises to approximately $863. Homeowners at the 90th percentile face tax bills as high as $1,109. Several factors influence these tax bills, including changes in market value, local tax rates, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Sweetwater County's rates can lead to relatively lower or higher tax bills, depending on specific circumstances. For homeowners, understanding these factors is crucial, as they directly impact annual expenses and long-term financial planning.
Average Reliance Tax Bill
$651
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Reliance, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82943 | $57 | $177 | $651 | $863 | $1,109 |
Source: Ownwell