Alta, Wyoming Property Taxes
The median property tax rate in Alta, Wyoming is 0.54%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Alta at $1,401,468, the typical annual property tax bill reaches $7,667, significantly exceeding the national median of $2,690. Property taxes in Alta 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 Alta'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 Alta or another part of Teton County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Alta, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.54%
Estimate Property Tax Bill
$7,568
$7,023
Ownwell’s ALTA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in ALTA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in ALTA 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 Alta, Wyoming
Property taxes in Alta, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Alta is 0.54%, which is lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Alta set these rates annually, and they can vary significantly across different neighborhoods. Each year, Alta 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 Alta's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83414 zip code has both the highest and lowest median property tax rate of 0.54%. Understanding how these cities compare with Alta provides valuable insights into the varying tax landscape across Teton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Alta Tax Rate
0.54%
Average Teton County Tax Rate
0.53%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Alta, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83414 | 0.53% | 0.54% | 0.54% | 0.56% | 0.61% |
Source: Ownwell
Property Tax Assessment Values Across Alta, Wyoming
In Alta, 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 Teton 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 Alta, 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 Alta is $1,401,468. The zip code 83414 has both the highest and lowest median tax bills at $7,667. Being aware of these valuation processes in Alta helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Alta Assessed Value
$1,401,468
Average Teton County Assessed Value
$2,024,966
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Alta, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83414 | $634,899 | $900,679 | $1,401,468 | $2,502,742 | $3,955,221 |
Source: Ownwell
Property Tax Bills Across Alta, Wyoming
In Alta, located in Teton County, WY, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Alta is $1,401,468. Property taxes are then applied to this assessed value using the local tax rate. Factors influencing the tax bill include the property's market value, any applicable exemptions, and the tax rate set by local authorities. For homeowners in Alta, the tax bill can vary significantly. The 25th percentile tax bill is around $5,066, while the 75th percentile reaches $13,381, and the 90th percentile can be as high as $20,297. These figures highlight the substantial range in property tax obligations, which can impact homeowners' financial planning and budgeting. Compared to the national median property tax rate of 0.99%, Alta's property taxes reflect the high property values in the area, resulting in higher tax bills overall.
Average Alta Tax Bill
$7,667
Average Teton County Tax Bill
$11,160
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Alta, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83414 | $3,583 | $5,066 | $7,667 | $13,381 | $20,297 |
Source: Ownwell