Buford, Wyoming Property Taxes
The median property tax rate in Buford, Wyoming, is 0.65%, which aligns with the state median but remains below the national median of 0.99%. With a median home value of $342,676 in Buford, the typical annual property tax bill amounts to $2,249, which is still lower than the national median of $2,690. Property taxes in Buford are determined based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. By understanding Buford's property tax system, exploring available exemptions, and identifying opportunities for reductions, homeowners and real estate investors can achieve significant annual savings. Whether residing in the heart of Buford or its outskirts, a thorough comprehension of the local property tax system is crucial for maximizing financial benefits.
Last Updated June 14, 2024
Buford, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.65%
Estimate Property Tax Bill
$2,227
Ownwell’s Buford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Buford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Buford 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 Buford, Wyoming
Property taxes in Buford, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Buford is 0.65%, lower than the U.S. national median of 0.99%. Local government entities within Buford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Buford 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 Buford's effective property tax rate to other areas in Wyoming and the national median. For comparison, the 82052 zip code has the same median property tax rate of 0.65%. Understanding how these cities compare with Buford provides valuable insights into the varying tax landscape across Albany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Buford Tax Rate
0.65%
Average Albany County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | 0.65% | 0.65% | 0.65% | 0.65% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Buford, Wyoming
In Buford, 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 Albany 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 Buford, 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. Buford's median home price is $342,676, with annual tax bills ranging from $1,462 at the 25th percentile to $5,451 at the 90th percentile. The zip code with both the highest and lowest median tax bill is 82052, valued at $2,249. Being aware of these valuation processes in Buford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Buford Assessed Value
$342,676
Average Albany County Assessed Value
$294,660
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | $117,186 | $225,284 | $342,676 | $572,189 | $840,061 |
Source: Ownwell
Property Tax Bills Across Buford, Wyoming
In Buford, Albany County, WY, property tax bills are calculated based on the assessed value of a property. This assessed value is determined by the county assessor and is a percentage of the property's market value. For homeowners in Buford, the median home price is $342,676. The tax rate in Albany County is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For example, the 25th percentile of tax bills in Buford is $1,462, while the 75th percentile is $3,801, and the 90th percentile reaches $5,451. These figures reflect how variations in property characteristics and exemptions can significantly impact the tax amount. Compared to the national median property tax rate of 0.99%, Buford’s tax bills indicate a range that can affect homeowners differently depending on their property's assessed value and any qualifying exemptions, making it crucial for homeowners to understand their specific tax obligations.
Average Buford Tax Bill
$2,249
Average Albany County Tax Bill
$2,125
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Buford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82052 | $758 | $1,462 | $2,249 | $3,801 | $5,451 |
Source: Ownwell