Mills, Wyoming Property Taxes
The median property tax rate in Mills, WY is 0.69%, slightly higher than the Wyoming state median of 0.65% but still below the national median of 0.99%. With the median home value in Mills at $74,332, the typical annual property tax bill is $509, significantly lower than the national median of $2,690. Property taxes in Mills are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Mills' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Mills 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
Mills, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$513
Ownwell’s Mills Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mills with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mills 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 Mills, Wyoming
Property taxes in Mills, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Mills is 0.58%, significantly lower than both the Wyoming state median of 0.61% and the U.S. national median of 0.99%. Local government entities within Mills set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mills 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 Mills' effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82644 zip code has the highest median property tax rate of 0.69%, while the 82604 zip code has the lowest median tax rate of 0.69%. Understanding how these cities compare with Mills provides valuable insights into the varying tax landscape across Natrona County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Mills Tax Rate
0.69%
Average Natrona County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Mills, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82604 | 0.65% | 0.69% | 0.69% | 0.69% | 0.69% |
| 82644 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Mills, Wyoming
In Mills, 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 Natrona 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 Mills, 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, Mills has a median home price of $74,332, with the highest median tax bill of $623 in the 82644 zip code and the lowest median tax bill of $358 in the 82604 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 Mills Assessed Value
$74,332
Average Natrona County Assessed Value
$218,065
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Mills, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82604 | $5,043 | $8,580 | $53,907 | $221,798 | $378,108 |
| 82644 | $4,941 | $14,288 | $90,901 | $208,610 | $295,013 |
Source: Ownwell
Property Tax Bills Across Mills, Wyoming
In Mills, property tax bills are calculated based on the assessed value of a home, which is determined by the Natrona County Assessor's Office. The assessed value is a percentage of the market value of the property. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Various factors, such as property location, improvements, and market conditions, influence the assessed value. For homeowners in Mills, understanding these calculations is crucial. The median home price in Mills is $74,332, and property tax bills can vary widely. For instance, the 25th percentile tax bill is $65, while the 75th percentile tax bill is $1,465, and the 90th percentile tax bill reaches $2,328. These figures highlight the range of possible tax obligations based on property values and specific assessments. Compared to the national median property tax rate of 0.99%, Mills offers relatively lower property tax bills, which can be a financial relief for homeowners. However, staying informed about property value assessments and potential changes in tax rates is essential for managing long-term financial planning.
Average Mills Tax Bill
$509
Average Natrona County Tax Bill
$1,493
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Mills, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82604 | $34 | $59 | $358 | $1,519 | $2,574 |
| 82644 | $34 | $99 | $623 | $1,436 | $2,041 |
Source: Ownwell