Moorcroft, Wyoming Property Taxes
The median property tax rate in Moorcroft, WY is 0.54%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Moorcroft at $160,058, the typical annual property tax bill is $875, well below the national median of $2,690. Property taxes in Moorcroft are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Moorcroft's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to considerable annual savings. Whether you're in the heart of Moorcroft 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
Moorcroft, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$864
$802
Ownwell’s Moorcroft Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Moorcroft with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Moorcroft 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 Moorcroft, Wyoming
Property taxes in Moorcroft, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Moorcroft is 0.54%, which is lower than the U.S. national median of 0.99%. Local government entities within Moorcroft set these rates annually, and they can vary significantly across different neighborhoods. Each year, Moorcroft 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 Moorcroft's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82721 zip code has the highest median property tax rate of 0.54%, while the 82721 zip code also has the lowest median tax rate of 0.54%. Understanding how these cities compare with Moorcroft provides valuable insights into the varying tax landscape across Crook County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Moorcroft Tax Rate
0.54%
Average Crook County Tax Rate
0.54%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Moorcroft, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82721 | 0.47% | 0.50% | 0.54% | 0.60% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Moorcroft, Wyoming
In Moorcroft, 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 Crook 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 Moorcroft, 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 Moorcroft helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $875.00 in the 82721 zip code, highlighting the uniformity in tax assessments within this locality.
Average Moorcroft Assessed Value
$160,058
Average Crook County Assessed Value
$198,902
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Moorcroft, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82721 | $12,069 | $35,333 | $160,058 | $297,393 | $466,585 |
Source: Ownwell
Property Tax Bills Across Moorcroft, Wyoming
In Moorcroft, WY, property tax bills are determined based on the assessed value of your home, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. For instance, with a median home price of $160,058, homeowners might expect varying tax bills depending on specific assessments and exemptions. Factors influencing the tax bill include the property's location within Crook County, any applicable exemptions, and the specific tax rate levied by local authorities. The tax bill can significantly impact homeowners, with the 25th percentile paying around $204, while those in the 75th percentile face bills close to $1,606. At the higher end, the 90th percentile sees tax bills reaching up to $2,236. Comparatively, Moorcroft's median tax bill of $875 is below the national median property tax rate of 0.99%, offering some relief to homeowners in this region. Understanding these factors helps residents anticipate their financial obligations and manage their budgets effectively.
Average Moorcroft Tax Bill
$875
Average Crook County Tax Bill
$1,086
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Moorcroft, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82721 | $66 | $204 | $875 | $1,606 | $2,236 |
Source: Ownwell