Lance Creek, Niobrara County, Wyoming Property Taxes
The median property tax rate in Lance Creek, WY is 0.66%, slightly above the state median of 0.65% but below the national median of 0.99%. With the median home value in Lance Creek at $100,552, the typical annual property tax bill is $714, which is significantly lower than the national median of $2,690. Property taxes in Lance Creek are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Lance Creek'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 Lance Creek or another part of Niobrara County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lance Creek, Niobrara County, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$664
$616
Ownwell’s Lance Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lance Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lance Creek 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 Lance Creek, Niobrara County, Wyoming
Property taxes in Lance Creek, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lance Creek is 0.66%, which is lower than the U.S. national median of 0.99%. Local government entities within Lance Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lance Creek 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 Lance Creek's effective property tax rate to other areas in Wyoming and the national median. For comparison, the 82222 zip code has both the highest and the lowest median property tax rate at 0.66%. Understanding how these areas compare with Lance Creek provides valuable insights into the varying tax landscape across Niobrara County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lance Creek Tax Rate
0.66%
Average Niobrara County Tax Rate
0.70%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lance Creek, Niobrara County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82222 | 0.54% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lance Creek, Niobrara County, Wyoming
In Lance Creek, 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 Niobrara 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 Lance Creek, 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 Lance Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 82222, with a median tax bill of $714.
Property Tax Assessment Values Across Lance Creek, Niobrara County, Wyoming
Source: Ownwell
$31,912
$115,419
$198,926
Average Lance Creek Assessed Value
$100,552
Average Niobrara County Assessed Value
$88,394
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lance Creek, Niobrara County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82222 | $10,851 | $30,497 | $100,552 | $317,603 | $494,745 |
Source: Ownwell
Property Tax Bills Across Lance Creek, Niobrara County, Wyoming
In Lance Creek, WY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is typically a percentage of the market value of the property. Homeowners in Lance Creek can expect their tax bills to vary significantly, depending on the value of their property. For instance, the tax bill at the 25th percentile is $158, while at the 75th percentile, it rises to $2,084, and at the 90th percentile, it can reach up to $3,264. These variations in tax bills are influenced by several factors, including the property's location, size, and condition. Compared to the national median property tax rate of 0.99%, Lance Creek's property taxes can be relatively low or high, depending on the specific property. This variability can significantly impact homeowners, affecting their annual financial planning and overall cost of homeownership. Understanding these factors can help homeowners better anticipate their property tax obligations and plan accordingly.
Average Lance Creek Tax Bill
$714
Average Niobrara County Tax Bill
$603
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Lance Creek, Niobrara County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82222 | $64 | $158 | $714 | $2,084 | $3,264 |
Source: Ownwell