Torrington, Goshen County, Wyoming Property Taxes
Median Torrington, WY effective property tax rate: 0.72%, significantly lower than the national median of 1.02%, but higher than the Wyoming state median of 0.65%.
Median Torrington, WY home value: $159,200
Median annual Torrington, WY tax bill: $1,113, $1,287 lower than the national median property tax bill of $2,400.
How are property taxes in Goshen County calculated?
Property taxes in Torrington, WY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Torrington’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Torrington, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Torrington, Goshen County, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.72%
Estimate Property Tax Bill
$1,146
$1,064
Property Tax Rates Across Torrington, Goshen County, Wyoming
Local government entities are responsible for setting property tax rates, which can vary significantly within a state. Each county estimates its necessary budget to provide essential services and divides that by the total value of all taxable property within its jurisdiction. This calculation results in the property tax rate. While the process involves votes and laws, this is essentially the annual procedure.
In Torrington, located in Goshen County, Wyoming, the effective property tax rate is a reflection of this process. When compared to other cities in Wyoming, Torrington's rate aligns with the state's median property tax rate of 0.72%, which is notably lower than the national median property tax rate of 1.02%. This makes Torrington an attractive location for property owners seeking lower tax obligations. The uniformity in tax rates across Torrington and the broader Goshen County suggests a stable tax environment, providing residents with predictability in their annual property tax bills. The lower rates in Wyoming, when compared to the national average, highlight the potential for savings and make it a compelling choice for homeowners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Torrington Tax Rate
0.72%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Goshen County Tax Rate
0.70%
Median Effective Wyoming Tax Rate
0.65%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Torrington, Goshen County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82240 | 0.63% | 0.67% | 0.72% | 0.72% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Torrington, Goshen County, Wyoming
When examining property taxes in Torrington, Wyoming, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Goshen County appraisal district estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Goshen County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of the season. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Torrington. For example, the median home price in Torrington is $159,200, with tax bills ranging significantly across the county. Zip code 82240 has the highest median home price at $159,200.
Property Tax Assessment Values Across Torrington, Goshen County, Wyoming
Source: Ownwell
$91,448
$169,930
$248,412
Median Torrington Market Value
$159,200
Median Goshen County Market Value
$154,898
Median Wyoming Market Value
$247,958
Median United States Market Value
$235,294
Property Tax Assessment Values Across Torrington, Goshen County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82240 | $13,734 | $75,588 | $159,200 | $262,328 | $400,311 |
Source: Ownwell
Property Tax Bills Across Torrington, Goshen County, Wyoming
In Torrington, Wyoming, property tax bills are calculated based on the assessed value of a property, which is determined by the county assessor. This assessed value is a percentage of the property's market value. Torrington homeowners face a median property tax bill of $1,113, which is below the national median of $2,400, reflecting Wyoming's relatively low property tax rates. Factors such as property size, location, and improvements can affect the assessed value and, consequently, the tax bill. For homeowners, understanding these factors is crucial, as they directly influence the amount owed annually.
Ownwell can assist homeowners in Torrington by reviewing their property assessments to ensure accuracy. If discrepancies or overvaluations are found, Ownwell can file an appeal on behalf of the homeowner, potentially reducing the tax bill. By leveraging expertise in property tax law and local market trends, Ownwell maximizes savings for homeowners, ensuring they pay only their fair share. This service provides peace of mind and financial relief, particularly in a fluctuating real estate market.
Median Torrington Tax Bill
$1,113
Median Goshen County Tax Bill
$1,078
Median Wyoming Tax Bill
$1,635
Median United States Tax Bill
$2,400
Property Tax Bills Across Torrington, Goshen County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82240 | $95 | $520 | $1,113 | $1,820 | $2,710 |
Source: Ownwell