Rock Springs, Wyoming Property Taxes
The median property tax rate in Rock Springs, WY is 0.69%, slightly higher than the state median of 0.65% but lower than the national median of 0.99%. With a median home value of $189,960 in Rock Springs, the typical annual property tax bill amounts to $1,292, which is below the national median of $2,690. Property taxes in Rock Springs 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 Rock Springs' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Rock Springs 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
Rock Springs, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$1,311
$1,216
Ownwell’s Rock Springs Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Rock Springs with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Rock Springs to project your property tax bill. This insightful tool helps you understand potential tax liabilities. For those interested in more granular details, additional localized information is available below. Your property’s assessed value is the value assigned by Sweetwater County for property tax calculations, considering any applicable exemptions.
Property Tax Rates Across Rock Springs, Wyoming
Property taxes in Rock Springs, Wyoming, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Rock Springs is 0.69%, which is lower than the U.S. national median of 0.99%. Local government entities within Rock Springs set these rates annually, and they can vary significantly across different neighborhoods. Each year, Rock Springs 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 Rock Springs' effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82901 zip code has the same median property tax rate of 0.69%. Understanding how these cities compare with Rock Springs 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 Rock Springs Tax Rate
0.69%
Average Sweetwater County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Rock Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82901 | 0.58% | 0.64% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Rock Springs, Wyoming
In Rock Springs, 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. 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 Rock Springs helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Rock Springs is $1,292 in the 82901 zip code, which is notably higher than the national median property tax rate of 0.99%. Understanding these nuances can help property owners in Rock Springs make informed decisions and potentially reduce their tax liabilities.
Average Rock Springs Assessed Value
$189,960
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 Rock Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82901 | $9,294 | $56,148 | $189,960 | $286,424 | $389,115 |
Source: Ownwell
Property Tax Bills Across Rock Springs, Wyoming
In Rock Springs, Sweetwater County, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is a percentage of the property's market value, which is periodically evaluated by local authorities. For homeowners in Rock Springs, the median home price is $189,960, which serves as a baseline for tax calculations. The tax bills can vary significantly, with the 25th percentile at $359 and the 75th percentile reaching $1,962. The 90th percentile tax bill can go as high as $2,677. Factors such as changes in property value, improvements made to the property, and local tax rate adjustments all influence the final tax bill. Compared to the national median property tax rate of 0.99%, Rock Springs offers relatively affordable property taxes, making it an attractive location for homeowners. The highest and lowest median tax bills in Rock Springs are both $1,292, indicating a consistent tax environment within the city.
Average Rock Springs Tax Bill
$1,292
Average Sweetwater County Tax Bill
$1,311
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Rock Springs, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82901 | $53 | $359 | $1,292 | $1,962 | $2,677 |
Source: Ownwell