Sheridan County Property Taxes
The median property tax rate in Sheridan County is 0.64%, which is slightly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Sheridan County at $337,055, the typical annual property tax bill amounts to $2,226, falling below the national median of $2,690. Property taxes in Sheridan County are calculated based on the assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Sheridan County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Sheridan or another part of Sheridan County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Sheridan County Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$2,157
Ownwell’s Sheridan County Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner to estimate their annual property taxes in Sheridan County with just 2 data points. Enter your property's estimated assessed value, and our calculator applies the median tax rate in Sheridan County to estimate your property tax bill. This insight helps you understand potential tax liabilities. If you’d like to see trends on a city level, scroll down to navigate to a more local informational page. Your property assessed value is the value assigned to your property by your county for property tax calculations. Assessed value takes into account any exemptions you may have on your property.
Property Tax Rates Across Sheridan County, Wyoming
Property taxes in Sheridan County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Sheridan County is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Sheridan County set these rates annually, and they can vary significantly between different areas within the county. Each year, Sheridan County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. The following data compares Sheridan County's effective property tax rate with other counties in Wyoming and the national median. For comparison, the city of Dayton has one of the higher property tax rates in Wyoming at 0.69%, while the city of Leiter boasts one of the lowest at 0.56%. Analyzing how Sheridan County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Sheridan County Tax Rate
0.64%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Sheridan County, Wyoming
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arvada | 0.52% | 0.56% | 0.63% | 0.63% | 0.63% |
| Banner | 0.56% | 0.60% | 0.63% | 0.63% | 0.63% |
| Big Horn | 0.51% | 0.54% | 0.64% | 0.64% | 0.64% |
| Clearmont | 0.55% | 0.57% | 0.63% | 0.65% | 0.68% |
| Dayton | 0.53% | 0.62% | 0.69% | 0.69% | 0.69% |
| Decker | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
| Leiter | 0.53% | 0.55% | 0.56% | 0.58% | 0.63% |
| Parkman | 0.53% | 0.58% | 0.64% | 0.64% | 0.64% |
| Ranchester | 0.57% | 0.62% | 0.65% | 0.69% | 0.69% |
| Sheridan | 0.57% | 0.63% | 0.68% | 0.68% | 0.68% |
| Story | 0.55% | 0.63% | 0.63% | 0.63% | 0.63% |
| Wolf | 0.55% | 0.56% | 0.63% | 0.63% | 0.63% |
| Wyarno | 0.53% | 0.56% | 0.63% | 0.63% | 0.63% |
Source: Ownwell
Property Tax Assessment Values Across Sheridan County, Wyoming
Understanding the difference between "market value" and "assessed value" is key to comprehending property taxes in Sheridan County, Wyoming. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Sheridan County Appraisal District. The assessed value, however, 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. Assessment notices in Sheridan County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. For instance, the highest median tax bill in the county is $8,938 in Wolf, while the lowest is $238 in Arvada. Being aware of these valuation processes in Sheridan County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Sheridan County, Wyoming
Source: Ownwell
$10,481
$712,657
$1,414,832
Average Sheridan County Assessed Value
$337,055
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Sheridan County, Wyoming
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arvada | $5,109 | $9,413 | $43,309 | $228,496 | $730,194 |
| Banner | $103,385 | $290,944 | $452,608 | $596,641 | $923,104 |
| Big Horn | $145,173 | $302,065 | $496,638 | $838,538 | $1,222,791 |
| Clearmont | $10,646 | $87,506 | $244,576 | $551,235 | $879,271 |
| Dayton | $15,553 | $223,756 | $348,041 | $515,814 | $740,941 |
| Decker | $785,208 | $785,208 | $785,208 | $785,208 | $785,208 |
| Leiter | $8,407 | $25,676 | $381,630 | $1,732,492 | $4,020,108 |
| Parkman | $35,296 | $134,868 | $292,470 | $507,221 | $874,027 |
| Ranchester | $15,566 | $180,265 | $305,773 | $423,346 | $585,448 |
| Sheridan | $74,824 | $232,878 | $335,456 | $499,984 | $732,404 |
| Story | $121,293 | $233,102 | $356,811 | $516,296 | $692,596 |
| Wolf | $855,803 | $1,228,272 | $1,414,832 | $1,923,780 | $3,160,993 |
| Wyarno | $12,412 | $97,863 | $322,705 | $467,754 | $584,318 |
Source: Ownwell
Property Tax Bills Across Sheridan County, Wyoming
In Sheridan County, WY, property tax bills are calculated based on the assessed value of a property, which is typically a percentage of its market value. The local tax rate is then applied to this assessed value to determine the annual tax bill. Various factors influence the assessed value, including the property's location, size, and any improvements made. Homeowners in Sheridan County experience a range of property tax bills. For example, the 25th percentile tax bill is around $1,502, while the 75th percentile reaches $3,270, and the 90th percentile can be as high as $4,778. These figures highlight the variability in tax burdens, which can significantly impact household budgets. Comparatively, Sheridan County's property tax rates are influenced by local budgets and needs, and they can differ substantially from other regions. For instance, while the national median property tax rate is 0.99%, Sheridan County’s rates may result in different tax bills depending on local fiscal policies and property values. This variability underscores the importance of understanding local tax assessments for accurate financial planning.
Average Sheridan County Tax Bill
$2,226
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Sheridan County, Wyoming
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Arvada | $31 | $50 | $238 | $1,444 | $4,613 |
| Banner | $645 | $1,784 | $2,773 | $3,758 | $5,640 |
| Big Horn | $851 | $1,687 | $3,021 | $5,291 | $7,841 |
| Clearmont | $52 | $556 | $1,556 | $3,438 | $5,503 |
| Dayton | $76 | $1,451 | $2,298 | $3,470 | $4,855 |
| Decker | $4,476 | $4,476 | $4,476 | $4,476 | $4,476 |
| Leiter | $45 | $147 | $2,184 | $9,732 | $25,176 |
| Parkman | $212 | $763 | $1,854 | $3,223 | $5,605 |
| Ranchester | $88 | $1,190 | $2,043 | $2,826 | $3,767 |
| Sheridan | $434 | $1,549 | $2,228 | $3,248 | $4,685 |
| Story | $734 | $1,406 | $2,237 | $3,181 | $4,245 |
| Wolf | $4,716 | $7,298 | $8,938 | $11,566 | $19,970 |
| Wyarno | $66 | $524 | $2,039 | $2,871 | $3,691 |
Source: Ownwell