Turnerville, Wyoming Property Taxes
The median property tax rate in Turnerville, WY is 0.58%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Turnerville at $571,784, the typical annual property tax bill reaches $3,340, surpassing the national median of $2,690. Property taxes in Turnerville 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 Turnerville'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 Turnerville 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
Turnerville, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.58%
Estimate Property Tax Bill
$3,316
$3,077
Ownwell’s Turnerville Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Turnerville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Turnerville 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 Turnerville, Wyoming
Property taxes in Turnerville, Wyoming, are essential for funding local services such as public schools, road maintenance, and emergency services. The median tax rate in Turnerville is 0.58%, which is below both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Turnerville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Turnerville 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 Turnerville's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83110 zip code has both the highest and lowest median property tax rate of 0.59%. Understanding how these areas compare with Turnerville 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 Turnerville Tax Rate
0.58%
Average Lincoln County Tax Rate
0.60%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Turnerville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83110 | 0.59% | 0.59% | 0.59% | 0.59% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Turnerville, Wyoming
In Turnerville, 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 Turnerville, 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 Turnerville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 83110 at $4,850, while the same zip code also has the lowest median tax bill at $4,850.
Average Turnerville Assessed Value
$571,784
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 Turnerville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83110 | $818,893 | $818,893 | $818,893 | $818,893 | $818,893 |
Source: Ownwell
Property Tax Bills Across Turnerville, Wyoming
In Turnerville, WY, property tax bills are calculated based on the assessed value of a home, which is derived from its market value. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the final tax bill, including property location, home size, and any applicable exemptions or deductions. For instance, the median home price in Turnerville is $571,784. Homeowners in the 25th percentile can expect a tax bill of around $2,585, while those in the 75th percentile might see a bill closer to $4,095. At the 90th percentile, the tax bill can reach up to $4,548. Comparatively, the national median property tax rate is 0.99%, which helps put these figures into perspective. Higher property taxes can significantly impact homeowners by increasing their annual expenses, making it crucial for them to understand how these taxes are calculated and what factors contribute to their tax bills.
Average Turnerville Tax Bill
$3,340
Average Lincoln County Tax Bill
$2,068
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Turnerville, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83110 | $4,850 | $4,850 | $4,850 | $4,850 | $4,850 |
Source: Ownwell