Diamondville, Wyoming Property Taxes
The median property tax rate in Diamondville, WY is 0.68%, slightly higher than the state median of 0.65% but still below the national median of 0.99%. With the median home value in Diamondville, the typical annual property tax bill reaches $447, significantly lower than the national median of $2,690. Property taxes in Diamondville are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Diamondville'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 Diamondville or another part of Lincoln County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Diamondville, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$438
$406
Ownwell’s Diamondville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Diamondville with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Diamondville to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. For those interested in neighborhood-level trends, you can find more localized information by scrolling down. Your property’s assessed value is the value assigned by Lincoln County for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Diamondville, Wyoming
Property taxes in Diamondville, Wyoming, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Diamondville is 0.68%, which is lower than the U.S. national median of 0.99%. Local government entities within Diamondville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Diamondville 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. Understanding how these cities compare with Diamondville 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 Diamondville Tax Rate
0.68%
Average Lincoln County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Diamondville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83116 | 0.68% | 0.68% | 0.68% | 0.68% | 0.68% |
Source: Ownwell
Property Tax Assessment Values Across Diamondville, Wyoming
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Diamondville, Wyoming. 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 Lincoln County 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 Diamondville, 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. The median home price in Diamondville is $64,340. The highest median tax bill in the area is $447 in the 83116 zip code, while the lowest is also $447 in the same zip code. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Diamondville Assessed Value
$64,340
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 Diamondville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83116 | $8,551 | $18,446 | $64,340 | $112,354 | $180,438 |
Source: Ownwell
Property Tax Bills Across Diamondville, Wyoming
In Diamondville, Lincoln County, WY, property tax bills are calculated based on the assessed value of your home. The assessed value is a percentage of the market value, determined by the county assessor. In this region, homeowners can expect property tax rates to be significantly lower than the national median of 0.99%. For instance, the median home price in Diamondville is $64,340. The tax bill varies widely depending on the value of the property. At the 25th percentile, a homeowner might pay around $125, while those at the 75th percentile could see bills as high as $750. For the top 10% of properties, tax bills can reach up to $1,257. The highest and lowest median tax bills in the area are both $447, indicating a consistent range across different properties in the same zip code. These factors collectively impact how much homeowners in Diamondville contribute to local services and infrastructure through their property taxes.
Average Diamondville Tax Bill
$447
Average Lincoln County Tax Bill
$2,068
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Diamondville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83116 | $58 | $125 | $447 | $750 | $1,257 |
Source: Ownwell