Cheyenne, Wyoming Property Taxes
The median property tax rate in Cheyenne, WY is 0.61%, which is notably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $312,029 in Cheyenne, the typical annual property tax bill amounts to $1,844, significantly below the national median of $2,690. Property taxes in Cheyenne are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Cheyenne'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 Cheyenne or another part of Laramie County, familiarizing yourself with the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cheyenne, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$1,903
Ownwell’s Cheyenne Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cheyenne with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cheyenne 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 Cheyenne, Wyoming
Property taxes in Cheyenne, Wyoming, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cheyenne is 0.61%, which is lower than the U.S. national median of 0.99%. Local government entities within Cheyenne set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cheyenne 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 Cheyenne's effective property tax rate to other areas in Wyoming and the national median. For comparison, the 82007 zip code has the highest median property tax rate of 0.61%, while the 82005 zip code has the lowest median tax rate of 0.48%. Understanding how these areas compare with Cheyenne provides valuable insights into the varying tax landscape across Laramie County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cheyenne Tax Rate
0.61%
Average Laramie County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cheyenne, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82001 | 0.56% | 0.58% | 0.60% | 0.63% | 0.64% |
| 82005 | 0.48% | 0.48% | 0.48% | 0.48% | 0.48% |
| 82007 | 0.56% | 0.59% | 0.61% | 0.64% | 0.67% |
| 82009 | 0.51% | 0.54% | 0.58% | 0.63% | 0.65% |
Source: Ownwell
Property Tax Assessment Values Across Cheyenne, Wyoming
In Cheyenne, 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 Laramie 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 Cheyenne, 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. For instance, the highest median tax bill is $2346 in the 82009 zip code, while the lowest median tax bill is $689 in the 82005 zip code. 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 Cheyenne helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cheyenne Assessed Value
$312,029
Average Laramie County Assessed Value
$308,008
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cheyenne, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82001 | $161,214 | $231,066 | $288,431 | $359,914 | $452,078 |
| 82005 | $143,718 | $143,718 | $143,718 | $143,718 | $143,718 |
| 82007 | $11,455 | $31,452 | $200,674 | $308,592 | $422,894 |
| 82009 | $209,639 | $307,570 | $405,133 | $554,814 | $693,450 |
Source: Ownwell
Property Tax Bills Across Cheyenne, Wyoming
In Cheyenne, located in Laramie County, WY, property tax bills are derived from the assessed value of a home, which is a percentage of its market value. The median home price in the area stands at $312,029. Property taxes are calculated by applying the local tax rate to this assessed value. Several factors influence the tax bill, including property location, home size, and local government budgets. Homeowners in Cheyenne experience varying tax bills depending on their neighborhood. For instance, the highest median tax bill in the 82009 zip code is $2,346, while the lowest in the 82005 zip code is $689. The tax bill at the 25th percentile is $1,287, increasing to $2,509 at the 75th percentile, and reaching $3,362 at the 90th percentile. These property taxes fund essential public services such as education, infrastructure, and emergency services, directly impacting the community's quality of life. Homeowners need to be aware of these costs as they significantly affect annual household expenses.
Average Cheyenne Tax Bill
$1,844
Average Laramie County Tax Bill
$1,816
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Cheyenne, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82001 | $935 | $1,371 | $1,727 | $2,174 | $2,706 |
| 82005 | $689 | $689 | $689 | $689 | $689 |
| 82007 | $70 | $194 | $1,200 | $1,840 | $2,467 |
| 82009 | $1,055 | $1,775 | $2,346 | $3,156 | $3,914 |
Source: Ownwell