Lost Springs, Wyoming Property Taxes
The median property tax rate in Lost Springs, WY is 0.66%, slightly higher than the Wyoming state median of 0.65% but lower than the national median of 0.99%. With the median home value in Lost Springs at $290,027, the typical annual property tax bill is $1,901, which is below the national median of $2,690. Property taxes in Lost Springs are based on the tax assessed value, often lower than the market value due to exemptions such as primary residence and agricultural exemptions. Understanding Lost Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lost Springs 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
Lost Springs, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.66%
Estimate Property Tax Bill
$1,914
Ownwell’s Lost Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Lost Springs using just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lost Springs to provide an estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities. For those interested in neighborhood-level trends, more localized information is available below. Your property’s assessed value is determined by the county for property tax calculations, which takes into account any applicable exemptions.
Property Tax Rates Across Lost Springs, Wyoming
Property taxes in Lost Springs, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lost Springs is 0.66%, lower than the U.S. national median of 0.99%. Local government entities within Lost Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lost Springs 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 Lost Springs' effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82224 zip code has the highest median property tax rate of 0.66%, while the same zip code also has the lowest median tax rate of 0.66%. Understanding how these cities compare with Lost Springs 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 Lost Springs 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 Lost Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82224 | 0.66% | 0.66% | 0.66% | 0.66% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lost Springs, Wyoming
In Lost Springs, 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 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 Lost Springs, 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 Lost Springs 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 bills is 82224, with a median tax bill of $1,901.
Average Lost Springs Assessed Value
$290,027
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 Lost Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82224 | $290,027 | $290,027 | $290,027 | $290,027 | $290,027 |
Source: Ownwell
Property Tax Bills Across Lost Springs, Wyoming
Property tax bills in Lost Springs, Niobrara County, WY, are calculated based on the assessed value of the property, which is derived from the market value. The median home price in Lost Springs is $290,027. The tax rate in this area is determined by local government budgets and the needs of public services such as schools, infrastructure, and emergency services. In Niobrara County, the property tax bill for homes at the 25th, 75th, and 90th percentiles is consistently $1,901. This uniformity suggests a stable tax environment for homeowners, providing predictability in annual financial planning. Compared to the national median property tax rate of 0.99%, the tax rate in Lost Springs is relatively favorable, making it an attractive area for potential homeowners. This stability and relatively low tax burden can significantly impact homeowners by reducing the overall cost of property ownership, thereby making housing more affordable and financially manageable.
Average Lost Springs Tax Bill
$1,901
Average Niobrara County Tax Bill
$603
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Lost Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82224 | $1,901 | $1,901 | $1,901 | $1,901 | $1,901 |
Source: Ownwell