Big Horn, Wyoming Property Taxes
The median property tax rate in Big Horn, WY is 0.64%, slightly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Big Horn at $496,638, the typical annual property tax bill reaches $3,021, surpassing the national median of $2,690. Property taxes in Big Horn are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Big Horn'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 Big Horn 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
Big Horn, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.64%
Estimate Property Tax Bill
$3,178
$2,950
Ownwell’s Big Horn Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Big Horn with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Big Horn 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 Big Horn, Wyoming
Property taxes in Big Horn, Wyoming, are crucial in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Big Horn is 0.64%, which is lower than the U.S. national median of 0.99%. Local government entities within Big Horn set these rates annually, and they can vary significantly across different neighborhoods. Each year, Big Horn 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 Big Horn's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82833 zip code has the highest median property tax rate of 0.64%, while the same zip code also has the lowest median tax rate of 0.64%. Understanding how these areas compare with Big Horn provides valuable insights into the varying tax landscape across Sheridan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Big Horn Tax Rate
0.64%
Average Sheridan County Tax Rate
0.64%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Big Horn, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82833 | 0.51% | 0.54% | 0.64% | 0.64% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Big Horn, Wyoming
In Big Horn, 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 Sheridan 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 Big Horn, 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 Big Horn helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 82833, with a tax bill of $3,021.00, while the lowest median tax bill is also $3,021.00 in the same zip code.
Average Big Horn Assessed Value
$496,638
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 Big Horn, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82833 | $145,173 | $302,065 | $496,638 | $838,538 | $1,222,791 |
Source: Ownwell
Property Tax Bills Across Big Horn, Wyoming
In Big Horn, Sheridan County, 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 a percentage of the property's market value, often reflecting local real estate trends. Homeowners in Big Horn can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is $1,687, while at the 75th percentile, it reaches $5,291. At the 90th percentile, it can go up to $7,841. These tax bills are influenced by several factors, including the property's market value, local tax rates, and any applicable exemptions or deductions. The highest median tax bill in Sheridan County is $3,021, which is relatively low compared to the national median property tax rate of 0.99%. This means that homeowners in Big Horn generally benefit from lower property tax rates, making it a financially appealing region for property ownership.
Average Big Horn Tax Bill
$3,021
Average Sheridan County Tax Bill
$2,226
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Big Horn, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82833 | $851 | $1,687 | $3,021 | $5,291 | $7,841 |
Source: Ownwell