Bairoil, Wyoming Property Taxes
The median property tax rate in Bairoil, WY is 0.77%, which is lower than the national median of 0.99% but higher than the Wyoming state median of 0.65%. With the median home value in Bairoil at $13,103, the typical annual property tax bill amounts to $84, significantly below the national median of $2,690. Property taxes in Bairoil are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Bairoil'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 Bairoil or another part of Sweetwater County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Bairoil, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.77%
Estimate Property Tax Bill
$101
$94
Ownwell’s Bairoil Property Tax Bill Calculator is a valuable tool for homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Bairoil with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Bairoil to provide an estimate of your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in trends at a neighborhood level, more localized information is available by scrolling down. Your property’s assessed value is the value assigned by Sweetwater County for property tax calculations, accounting for any applicable exemptions.
Property Tax Rates Across Bairoil, Wyoming
Property taxes in Bairoil, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Bairoil is 0.77%, which is lower than the U.S. national median of 0.99%. Local government entities within Bairoil set these rates annually, and they can vary significantly across different neighborhoods. Each year, Bairoil 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 Bairoil's effective property tax rate to other counties in Wyoming and the national median. For comparison, the zip code 82322 has both the highest and lowest median property tax rate of 0.77%. Understanding how these cities compare with Bairoil provides valuable insights into the varying tax landscape across Sweetwater County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Bairoil Tax Rate
0.77%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Bairoil, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82322 | 0.65% | 0.77% | 0.77% | 0.77% | 0.77% |
Source: Ownwell
Property Tax Assessment Values Across Bairoil, Wyoming
In Bairoil, 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 Sweetwater 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 Bairoil, 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. For instance, homeowners in the 82520 zip code may see tax bills as low as $41, while those in the 82501 zip code could receive bills up to $347. 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 Bairoil helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Bairoil Assessed Value
$13,103
Average Sweetwater County Assessed Value
$192,526
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Bairoil, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82322 | $2,824 | $5,347 | $13,103 | $24,520 | $46,144 |
Source: Ownwell
Property Tax Bills Across Bairoil, Wyoming
In Bairoil, located in Sweetwater County, WY, property tax bills are calculated based on the assessed value of the property. The assessed value is a percentage of the property's market value, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the property tax bill. The median home price in Bairoil is $13,103, and the property tax rate in Sweetwater County is relatively low compared to the national median property tax rate of 0.99%. Factors that influence the tax bill include the property's assessed value, market conditions, and any applicable exemptions or deductions. For instance, at the 25th percentile, tax bills are around $41, while at the 75th percentile, they can reach up to $187. At the 90th percentile, homeowners might see tax bills as high as $347. These property taxes fund essential services such as schools, public safety, and infrastructure, directly impacting the community's quality of life. Lower property tax rates in Bairoil can make homeownership more affordable, benefiting residents financially.
Average Bairoil Tax Bill
$84
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Bairoil, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82322 | $22 | $41 | $84 | $187 | $347 |
Source: Ownwell