Newcastle, Wyoming Property Taxes
The median property tax rate in Newcastle, WY is 0.59%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $526,022 in Newcastle, the typical annual property tax bill amounts to $3,116, surpassing the national median of $2,690. Property taxes in Newcastle are based on the tax assessed value, which is often lower than the market value due to exemptions like the primary residence and agricultural exemptions. Understanding Newcastle'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 Newcastle or another part of the city, getting to know the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newcastle, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$3,104
Ownwell’s Newcastle Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Newcastle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcastle to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in exploring trends at the neighborhood level, additional localized information is available below. Your property’s assessed value, assigned by the county for property tax calculations, takes into account any applicable exemptions.
Property Tax Rates Across Newcastle, Wyoming
Property taxes in Newcastle, Wyoming, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcastle is 0.59%, which is lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Newcastle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcastle 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 Newcastle's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82701 has both the highest and lowest median property tax rate of 0.59%. Understanding how these cities compare with Newcastle provides valuable insights into the varying tax landscape across Campbell County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcastle Tax Rate
0.59%
Average Campbell County Tax Rate
0.67%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Newcastle, Wyoming
In Newcastle, 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 Campbell 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 Newcastle, 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 Newcastle 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 the region are both $3,116, found in the 82701 zip code.
Average Newcastle Assessed Value
$526,022
Average Campbell County Assessed Value
$220,988
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $526,022 | $526,022 | $526,022 | $526,022 | $526,022 |
Source: Ownwell
Property Tax Bills Across Newcastle, Wyoming
In Newcastle, Campbell County, WY, property tax bills are calculated based on the assessed value of a home, which is typically a percentage of its market value. The median home price in this area stands at $526,022. Property taxes are then determined by applying the local tax rate to this assessed value. For example, if a home is assessed at a certain percentage of its market value, the tax rate is applied to this assessed value to calculate the tax bill. The property tax rate in Newcastle is influenced by various factors, including local government budgets, school funding needs, and public services. Homeowners in this region experience a median tax bill of $3,116, which is notably higher than the national median property tax rate of 0.99%. This higher tax bill can impact homeowners by increasing their annual housing costs, potentially affecting their overall financial planning and home affordability. Understanding these factors is crucial for homeowners to anticipate and manage their property tax obligations effectively.
Average Newcastle Tax Bill
$3,116
Average Campbell County Tax Bill
$1,601
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $3,116 | $3,116 | $3,116 | $3,116 | $3,116 |
Source: Ownwell