Riverton, Wyoming Property Taxes
The median property tax rate in Riverton, WY is 0.74%, which is below the national median of 0.99% but higher than the Wyoming state median of 0.65%. With the median home value in Riverton at $156,916, the typical annual property tax bill amounts to $1,173, significantly less than the national median of $2,690. Property taxes in Riverton are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Riverton's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Riverton 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
Riverton, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$1,161
Ownwell’s Riverton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverton 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 Riverton, Wyoming
Property taxes in Riverton, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverton is 0.74%, lower than the U.S. national median of 0.99%. Local government entities within Riverton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverton 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 Riverton's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82501 has the highest median property tax rate of 0.74%, while the same zip code also has the lowest median tax rate of 0.74%. Understanding how these cities compare with Riverton provides valuable insights into the varying tax landscape across Fremont County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverton Tax Rate
0.74%
Average Fremont County Tax Rate
0.72%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverton, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82501 | 0.69% | 0.71% | 0.74% | 0.76% | 0.76% |
Source: Ownwell
Property Tax Assessment Values Across Riverton, Wyoming
In Riverton, 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 Fremont County Assessor's Office 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 Riverton, 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 Riverton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Riverton is $1173 in zip code 82501, while the lowest median tax bill is also $1173 in the same zip code.
Average Riverton Assessed Value
$156,916
Average Fremont County Assessed Value
$184,535
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverton, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82501 | $10,442 | $29,372 | $156,916 | $249,150 | $379,888 |
Source: Ownwell
Property Tax Bills Across Riverton, Wyoming
In Riverton, property tax bills are calculated based on the assessed value of a home, which is derived from a percentage of its market value. The assessed value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as the property's location, size, and any applicable exemptions or abatements can influence the final amount. For instance, the median home price in Riverton is $156,916. Homeowners in the 25th percentile can expect a tax bill around $274, while those in the 75th percentile might see bills as high as $1,837. At the 90th percentile, tax bills can reach up to $2,745. Comparatively, Fremont County's highest and lowest median tax bills are both recorded at $1,173 in the 82501 zip code. These property taxes fund essential services like schools, public safety, and infrastructure, directly impacting the quality of life for Riverton residents. Understanding these factors helps homeowners better anticipate their financial obligations and plan accordingly.
Average Riverton Tax Bill
$1,173
Average Fremont County Tax Bill
$1,362
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverton, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82501 | $77 | $274 | $1,173 | $1,837 | $2,745 |
Source: Ownwell