Randolph, Wyoming Property Taxes
The median property tax rate in Randolph, WY is 0.65%, aligning with the state median but lower than the national median of 0.99%. With a median home value of $211,134 in Randolph, the typical annual property tax bill is $1,365, which is significantly below the national median of $2,690. Property taxes in Randolph are calculated based on the tax assessed value, often reduced by exemptions such as those for primary residences and agricultural land. Understanding Randolph's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're located in the heart of Randolph or another part of the city, grasping the local property tax system is advantageous for both homeowners and real estate investors.
Last Updated June 14, 2024
Randolph, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$1,372
Ownwell’s Randolph Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Randolph with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Randolph to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in seeing trends on a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Randolph, Wyoming
Property taxes in Randolph, Wyoming, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Randolph is 0.65%, which is lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Randolph set these rates annually, and they can vary significantly across different neighborhoods. Each year, Randolph 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 Randolph's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 84064 has both the highest and lowest median property tax rate of 0.65%. Understanding how these cities compare with Randolph provides valuable insights into the varying tax landscape across Uinta County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Randolph Tax Rate
0.65%
Average Uinta County Tax Rate
0.65%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Randolph, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Randolph, Wyoming
In Randolph, 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 Uinta 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 Randolph, 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 Randolph helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest and lowest median tax bills in Randolph are both $1365.00, specifically in the 84064 zip code.
Average Randolph Assessed Value
$211,134
Average Uinta County Assessed Value
$195,156
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Randolph, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | $211,134 | $211,134 | $211,134 | $211,134 | $211,134 |
Source: Ownwell
Property Tax Bills Across Randolph, Wyoming
In Randolph, Uinta County, WY, property tax bills are calculated based on the assessed value of your home and the local tax rate. The assessed value is a percentage of the market value determined by the county assessor's office. This value is then multiplied by the local tax rate to determine your annual tax bill. For instance, if your home’s assessed value is $211,134, the tax rate is applied to this value to calculate the bill. Several factors influence the assessed value, including recent sales of similar properties, improvements made to the home, and overall market conditions. Homeowners in Randolph typically see a median tax bill of $1,365, which is significantly higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing the cost of owning property, potentially affecting affordability and financial planning. Understanding these factors can help homeowners anticipate their annual tax obligations and budget accordingly.
Average Randolph Tax Bill
$1,365
Average Uinta County Tax Bill
$1,317
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Randolph, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 84064 | $1,365 | $1,365 | $1,365 | $1,365 | $1,365 |
Source: Ownwell