Star Valley Ranch, Wyoming Property Taxes
The median property tax rate in Star Valley Ranch, WY is 0.64%, slightly below both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $551,726 in Star Valley Ranch, the typical annual property tax bill reaches $3,530, surpassing the national median of $2,690. Property taxes in Star Valley Ranch are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Star Valley Ranch'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 Star Valley Ranch 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
Star Valley Ranch, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$3,531
Ownwell’s STAR VALLEY RANCH Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in STAR VALLEY RANCH with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in STAR VALLEY RANCH 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 Star Valley Ranch, Wyoming
Property taxes in Star Valley Ranch, Wyoming, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Star Valley Ranch is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Star Valley Ranch set these rates annually, and they can vary across different neighborhoods. Each year, Star Valley Ranch 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 Star Valley Ranch's effective property tax rate to other areas in Lincoln County and the national median. For comparison, the 83127 zip code has both the highest and lowest median property tax rate of 0.64%. Understanding how these cities compare with Star Valley Ranch 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 Star Valley Ranch Tax Rate
0.64%
Average Lincoln County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Star Valley Ranch, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83127 | 0.64% | 0.64% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Star Valley Ranch, Wyoming
In Star Valley Ranch, 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 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 Star Valley Ranch, 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 Star Valley Ranch helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $3,530, found in the 83127 zip code.
Property Tax Assessment Values Across Star Valley Ranch, Wyoming
Source: Ownwell
$7,367
$413,130
$818,893
Average Star Valley Ranch Assessed Value
$551,726
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 Star Valley Ranch, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83127 | $331,493 | $425,796 | $551,726 | $716,635 | $897,295 |
Source: Ownwell
Property Tax Bills Across Star Valley Ranch, Wyoming
In Star Valley Ranch, located in Lincoln County, WY, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The median home price in this area is $551,726. Property tax rates are applied to this assessed value to determine the annual tax bill. Various factors, such as property size, location, and any applicable exemptions, are considered in the assessment process. For homeowners in Star Valley Ranch, the tax bill can vary significantly. For example, the 25th percentile tax bill is $2,723, while the 75th percentile tax bill is $4,584. At the higher end, the 90th percentile tax bill reaches $5,738. The highest median tax bill in the area is recorded at $3,530, which is notably higher than the national median property tax rate of 0.99%. These property taxes are crucial as they fund local services such as schools, public safety, and infrastructure, directly impacting the quality of life in the community.
Average Star Valley Ranch Tax Bill
$3,530
Average Lincoln County Tax Bill
$2,068
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Star Valley Ranch, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83127 | $2,156 | $2,723 | $3,530 | $4,584 | $5,738 |
Source: Ownwell