Bedford, Wyoming Property Taxes
The median property tax rate in Bedford, Wyoming is 0.59%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Bedford, the typical annual property tax bill reaches $2,926, exceeding the national median of $2,690. Property taxes in Bedford 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 Bedford'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 Bedford 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
Bedford, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.59%
Estimate Property Tax Bill
$2,870
Ownwell’s Bedford Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Bedford with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bedford 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 Bedford, Wyoming
Property taxes in Bedford, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bedford is 0.59%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Bedford set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bedford 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 Bedford's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83112 zip code has both the highest and lowest median property tax rate in the region at 0.59%. Understanding how these cities compare with Bedford provides valuable insights into the varying tax landscape across Lincoln County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bedford Tax Rate
0.59%
Average Lincoln County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bedford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83112 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Bedford, Wyoming
In Bedford, 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 Lincoln 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 Bedford, 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. For instance, the highest median tax bill in Bedford is $2,926 in the 83112 zip code. Being aware of these valuation processes in Bedford helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bedford Assessed Value
$486,407
Average Lincoln County Assessed Value
$316,204
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bedford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83112 | $116,900 | $270,217 | $486,407 | $751,766 | $1,070,668 |
Source: Ownwell
Property Tax Bills Across Bedford, Wyoming
In Bedford, Lincoln County, WY, property tax bills are calculated based on the assessed value of the home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. For example, with a median home price of $486,407, the assessed value is then multiplied by the local tax rate to determine the tax bill. Several factors influence the final tax bill, including the property's location, size, and any applicable exemptions. In Bedford, the tax bill ranges widely, with the 25th percentile tax bill at $1,745 and the 75th percentile reaching $4,506. For those in the 90th percentile, the tax bill can go up to $6,429. These taxes significantly impact homeowners by contributing to local services such as schools, roads, and emergency services. Comparing this to the national median property tax rate of 0.99%, Bedford's property tax rates can vary but are generally reflective of the value and services provided in the area.
Average Bedford Tax Bill
$2,926
Average Lincoln County Tax Bill
$2,068
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Bedford, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83112 | $842 | $1,745 | $2,926 | $4,506 | $6,429 |
Source: Ownwell