Farson, Wyoming Property Taxes
The median property tax rate in Farson, WY is 0.74%, lower than the national median of 0.99% but higher than the Wyoming state median of 0.65%. With the median home value in Farson at $99,304, the typical annual property tax bill reaches $736, well below the national median of $2,690. Property taxes in Farson 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 Farson'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 Farson 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
Farson, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.74%
Estimate Property Tax Bill
$735
Ownwell’s Farson Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Farson with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Farson 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 Farson, Wyoming
Property taxes in Farson, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Farson is 0.74%, which is notably lower than the U.S. national median of 0.99%. Local government entities within Farson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Farson 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. Understanding how Farson's effective property tax rate compares to other areas within Sweetwater County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Farson Tax Rate
0.74%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Farson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82932 | 0.63% | 0.66% | 0.74% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Farson, Wyoming
In Farson, 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 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 Farson, 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. The median home price in Farson is $99,304, with tax bills ranging from the 25th percentile at $115 to the 90th percentile at $3,063. The zip code 82932 has the highest median tax bill at $736. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Farson Assessed Value
$99,304
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 Farson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82932 | $8,176 | $16,806 | $99,304 | $266,032 | $413,479 |
Source: Ownwell
Property Tax Bills Across Farson, Wyoming
In Farson, Sweetwater County, WY, property tax bills are determined by assessing the market value of a home and applying the local tax rate to this value. Homeowners in Farson experience a range of tax bills, influenced by their property's assessed value and the local tax rate. The median home price in Farson is $99,304, and tax bills can vary significantly. For instance, the 25th percentile tax bill is $115, while the 75th percentile tax bill is $1,961, and the 90th percentile tax bill reaches $3,063. These variations highlight how different factors, such as property size, location, and improvements, affect tax amounts. Compared to the national median property tax rate of 0.99%, Farson’s tax bills reflect the local economic conditions and property values. Homeowners must consider these taxes as part of their overall housing costs, impacting their financial planning and decisions about property investments. Understanding these factors helps homeowners anticipate their tax obligations and manage their budgets effectively.
Average Farson Tax Bill
$736
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Farson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82932 | $52 | $115 | $736 | $1,961 | $3,063 |
Source: Ownwell