Pt Of Rocks, Wyoming Property Taxes
The median property tax rate in Point of Rocks, WY is 0.54%, significantly lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With a median home value of $12,260 in Point of Rocks, the typical annual property tax bill is just $66, far below the national median of $2,690. Property taxes in Point of Rocks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Point of Rocks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Point of Rocks 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
Pt Of Rocks, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$66
$61
Ownwell’s PT OF ROCKS Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in PT OF ROCKS with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in PT OF ROCKS 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 Pt Of Rocks, Wyoming
Property taxes in Point of Rocks, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Point of Rocks is 0.54%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Point of Rocks set these rates annually, and they can vary across different neighborhoods. Each year, Point of Rocks 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 Point of Rocks' effective property tax rate to other areas in Sweetwater County and the national median. For comparison, the zip code 82942 has both the highest and lowest median property tax rate of 0.54%, illustrating a consistent tax landscape within this region. Understanding how these figures compare with Point of Rocks 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 Pt Of Rocks Tax Rate
0.54%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pt Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | 0.53% | 0.54% | 0.54% | 0.58% | 0.64% |
Source: Ownwell
Property Tax Assessment Values Across Pt Of Rocks, Wyoming
In Point of Rocks, 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 Point of Rocks, 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 Point of Rocks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in the area is $12,260, with annual tax bills ranging from $54 at the 25th percentile to $963 at the 90th percentile.
Average Pt Of Rocks Assessed Value
$12,260
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 Pt Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | $5,992 | $10,088 | $12,260 | $44,363 | $150,406 |
Source: Ownwell
Property Tax Bills Across Pt Of Rocks, Wyoming
In Point of Rocks, Sweetwater County, Wyoming, property tax bills are determined by multiplying the assessed value of a home by the local tax rate. The assessed value is typically a percentage of the property's market value, which in this region is relatively low, with a median home price of $12,260. This low market value influences the overall tax burden for homeowners. For example, the tax bill at the 25th percentile is $54, indicating a modest tax burden for lower-valued properties. Meanwhile, at the 75th percentile, the tax bill rises to $272, and at the 90th percentile, it can reach up to $963. These variations show how property value disparities directly impact tax obligations. Given the national median property tax rate of 0.99%, Point of Rocks homeowners benefit from comparatively lower taxes due to the lower home values. This can make homeownership more affordable and manageable for residents, although it also reflects the area's lower property values compared to national averages.
Average Pt Of Rocks Tax Bill
$66
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Pt Of Rocks, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82942 | $32 | $54 | $66 | $272 | $963 |
Source: Ownwell