Baggs, Wyoming Property Taxes
The median property tax rate in Baggs, WY is 0.64%, which is slightly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Baggs at $59,042, the typical annual property tax bill amounts to $401, significantly below the national median of $2,690. Property taxes in Baggs 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 Baggs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Baggs 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
Baggs, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$378
Ownwell’s Baggs Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Baggs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Baggs 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 Baggs, Wyoming
Property taxes in Baggs, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Baggs is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Baggs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Baggs 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. For comparison, the highest median property tax rate in Carbon County is 0.64% in the 82321 zip code, while the lowest median tax rate is 0.62% in the 82323 zip code. Understanding how these cities compare with Baggs provides valuable insights into the varying tax landscape across Carbon County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Baggs Tax Rate
0.64%
Average Carbon County Tax Rate
0.58%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Baggs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82321 | 0.58% | 0.62% | 0.64% | 0.68% | 0.71% |
| 82323 | 0.62% | 0.62% | 0.62% | 0.62% | 0.62% |
Source: Ownwell
Property Tax Assessment Values Across Baggs, Wyoming
In Baggs, 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 Carbon 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 Baggs, 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 Baggs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $405 in the 82321 zip code, while the lowest is $165 in the 82323 zip code.
Average Baggs Assessed Value
$59,042
Average Carbon County Assessed Value
$141,657
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Baggs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82321 | $9,768 | $17,010 | $59,272 | $193,631 | $299,894 |
| 82323 | $26,389 | $26,389 | $26,389 | $26,389 | $26,389 |
Source: Ownwell
Property Tax Bills Across Baggs, Wyoming
In Baggs, located in Carbon County, WY, property tax bills are calculated by multiplying the assessed value of a property by the local tax rate. The assessed value is determined based on a percentage of the property's market value, which is periodically evaluated. Various factors such as property size, location, and home improvements can influence this assessed value. The median home price in Baggs is $59,042, and the property tax rate in Carbon County significantly impacts homeowners. For instance, the 25th percentile tax bill is $109, while at the 75th percentile, it rises to $1,299. At the higher end, the 90th percentile tax bill reaches $2,015. The highest median tax bill within the county is found in zip code 82321, amounting to $405, while the lowest is in zip code 82323 at $165. These property tax bills can significantly affect homeowners, influencing their annual budgeting and long-term financial planning. Compared to the national median property tax rate of 0.99%, homeowners in Baggs experience a wide range of tax bills, reflecting the variability in assessed values and local tax rates.
Average Baggs Tax Bill
$401
Average Carbon County Tax Bill
$819
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Baggs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82321 | $60 | $108 | $405 | $1,301 | $2,016 |
| 82323 | $165 | $165 | $165 | $165 | $165 |
Source: Ownwell