Frannie, Big Horn County, Wyoming Property Taxes
The median property tax rate in Frannie, Wyoming is 0.62%, which is lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $83,554 in Frannie, the typical annual property tax bill is $514, significantly below the national median of $2,690. Property taxes in Frannie are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as those for primary residences and agricultural properties. Understanding Frannie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Frannie or another part of Big Horn County, gaining insights into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Frannie, Big Horn County, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$518
$481
Ownwell’s Frannie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Frannie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Frannie 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 Frannie, Big Horn County, Wyoming
Property taxes in Frannie, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Frannie is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Frannie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Frannie 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 Frannie's effective property tax rate to other areas in Wyoming and the national median. For comparison, the 82423 zip code has both the highest and lowest median property tax rate of 0.62%. Understanding how these areas compare with Frannie provides valuable insights into the varying tax landscape across Big Horn County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Frannie Tax Rate
0.62%
Average Big Horn County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Frannie, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | 0.56% | 0.59% | 0.62% | 0.63% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Frannie, Big Horn County, Wyoming
In Frannie, 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 Big Horn 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 Frannie, 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 Frannie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Frannie is $83,554, with the 25th percentile tax bill at $199 and the 75th percentile at $994. The zip code 82423 has both the highest and lowest median tax bills, at $514.
Property Tax Assessment Values Across Frannie, Big Horn County, Wyoming
Source: Ownwell
$83,554
$231,194
$378,834
Average Frannie Assessed Value
$83,554
Average Big Horn County Assessed Value
$158,659
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Frannie, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | $17,702 | $33,880 | $83,554 | $159,984 | $218,752 |
Source: Ownwell
Property Tax Bills Across Frannie, Big Horn County, Wyoming
Property tax bills in Frannie, located in Big Horn County, WY, are calculated based on the assessed value of a property, which is determined by the county assessor. The assessed value is a percentage of the property's market value, which is then multiplied by the local tax rate to determine the tax bill. For homeowners in Frannie, the median home price is $83,554. Given this value, property taxes can vary significantly. For instance, the 25th percentile tax bill is $199, while the 75th percentile tax bill reaches $994, and the 90th percentile tax bill can be as high as $1,333. These figures illustrate the range of property tax bills that homeowners might expect. Compared to the national median property tax rate of 0.99%, Frannie's tax rates provide a competitive edge, potentially making it a more affordable option for property owners. Homeowners should be aware of these factors as they directly influence their annual financial obligations and overall cost of owning a home in this region.
Average Frannie Tax Bill
$514
Average Big Horn County Tax Bill
$957
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Frannie, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82423 | $115 | $199 | $514 | $994 | $1,333 |
Source: Ownwell