Lusk, Wyoming Property Taxes
The median property tax rate in Lusk, WY is 0.70%, slightly higher than the state median of 0.65% but lower than the national median of 0.99%. With the median home value in Lusk, the typical annual property tax bill reaches $642, which is significantly below the national median of $2,690. Property taxes in Lusk 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 Lusk'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 Lusk or another part of Niobrara County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Lusk, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$655
$607
Ownwell’s Lusk Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lusk with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lusk 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 Lusk, Wyoming
Property taxes in Lusk, Wyoming, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Lusk is 0.70%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Lusk set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lusk 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 Lusk's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82225 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Lusk 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 Lusk Tax Rate
0.70%
Average Niobrara County Tax Rate
0.70%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lusk, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82225 | 0.57% | 0.66% | 0.70% | 0.70% | 0.70% |
Source: Ownwell
Property Tax Assessment Values Across Lusk, Wyoming
In Lusk, 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 Lusk, 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 Lusk helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Lusk is $93,507, with tax bills ranging from $265 at the 25th percentile to $2,147 at the 90th percentile. The highest and lowest median tax bills are both $642, found in the 82225 zip code.
Average Lusk Assessed Value
$93,507
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 Lusk, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82225 | $13,700 | $40,362 | $93,507 | $187,362 | $316,991 |
Source: Ownwell
Property Tax Bills Across Lusk, Wyoming
In Lusk, Niobrara County, WY, property tax bills are calculated based on the assessed value of a home, which is typically a fraction of its market value. The local property tax rate, which is applied to this assessed value, determines the final tax bill. For instance, with a median home price of $93,507, homeowners in Lusk can expect varying tax bills. Factors such as property location and any applicable exemptions also play a role. Homeowners in Lusk see a wide range of tax bills. The 25th percentile tax bill is $265, while the 75th percentile tax bill reaches $1,286. Those in the 90th percentile face tax bills as high as $2,147. Comparatively, the highest and lowest median tax bills in the area are both $642, indicating consistency within certain neighborhoods. These property taxes fund essential local services, impacting homeowners by contributing to public education, infrastructure, and emergency services. While the tax rate in Lusk may be lower than the national median property tax rate of 0.99%, it still plays a crucial role in maintaining community services and property values.
Average Lusk Tax Bill
$642
Average Niobrara County Tax Bill
$603
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Lusk, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82225 | $89 | $265 | $642 | $1,286 | $2,147 |
Source: Ownwell