Jackson, Wyoming Property Taxes
The median property tax rate in Jackson, WY is 0.53%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Jackson at $1,889,434, the typical annual property tax bill reaches $10,420, significantly exceeding the national median of $2,690. Property taxes in Jackson 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 Jackson'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 Jackson 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
Jackson, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$10,014
Ownwell’s JACKSON Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in JACKSON with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in JACKSON 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 Jackson, Wyoming
Property taxes in Jackson, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Jackson is 0.53%, lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Jackson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Jackson 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 Jackson's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83001 zip code has the highest median property tax rate of 0.53%, while the 83002 zip code has the lowest median tax rate of 0.53%. Understanding how these cities compare with Jackson provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Jackson Tax Rate
0.53%
Average Teton County Tax Rate
0.53%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Jackson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83001 | 0.53% | 0.53% | 0.53% | 0.53% | 0.59% |
| 83002 | 0.53% | 0.53% | 0.53% | 0.53% | 0.53% |
Source: Ownwell
Property Tax Assessment Values Across Jackson, Wyoming
In Jackson, 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 Teton 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 Jackson, 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. For instance, the highest median tax bill in Jackson is $10,426 in the 83001 zip code, while the lowest median tax bill is $188 in the 83002 zip code. Understanding these valuation concepts helps property owners navigate their tax responsibilities and comprehend how their property taxes are determined. By being aware of these processes, homeowners can identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Jackson Assessed Value
$1,889,434
Average Teton County Assessed Value
$2,024,966
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Jackson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83001 | $287,242 | $987,996 | $1,889,628 | $3,174,190 | $6,322,482 |
| 83002 | $23,718 | $28,056 | $35,288 | $42,520 | $46,858 |
Source: Ownwell
Property Tax Bills Across Jackson, Wyoming
In Jackson, located in Teton County, WY, property tax bills are determined by assessing the market value of a property and applying the local tax rate. The assessed value is typically a percentage of the market value, which is then multiplied by the tax rate to calculate the annual tax bill. For homeowners in Jackson, the median home price stands at $1,889,434, significantly higher than the national median, which influences the tax bills considerably. Various factors are considered in determining the tax bill, including property location, size, and any improvements made. The tax bill can vary widely, with the 25th percentile at $5,416 and the 75th percentile at $17,444. For the top 10% of properties, tax bills can soar to $35,952. The highest median tax bill in Jackson is $10,426 in the 83001 zip code, while the lowest median tax bill is $188 in the 83002 zip code. These variations highlight how property tax bills can significantly impact homeowners, especially in high-value areas.
Average Jackson Tax Bill
$10,420
Average Teton County Tax Bill
$11,160
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Jackson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83001 | $1,775 | $5,420 | $10,426 | $17,453 | $35,957 |
| 83002 | $127 | $150 | $188 | $227 | $250 |
Source: Ownwell