Wilson, Wyoming Property Taxes
The median property tax rate in Wilson, WY is 0.53%, considerably lower than both the national median of 0.99% and the Wyoming state median of 0.65%. With the median home value in Wilson, the typical annual property tax bill reaches $15,898, significantly exceeding the national median of $2,690. Property taxes in Wilson are calculated based on the assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Wilson'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 Wilson 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
Wilson, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.53%
Estimate Property Tax Bill
$15,362
Ownwell’s Wilson Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Wilson. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Wilson to provide an accurate estimate of your property tax bill. This valuable tool helps you understand potential tax liabilities and plan your finances accordingly. For those interested in neighborhood-specific trends, more localized information is available by scrolling down. Your property's assessed value is determined by the county for property tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Wilson, Wyoming
Property taxes in Wilson, Wyoming, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wilson is 0.53%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Wilson set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wilson 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 Wilson's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 83014 zip code has the highest median property tax rate of 0.53%, while the same zip code also has the lowest median tax rate of 0.53%. Understanding how these cities compare with Wilson 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 Wilson Tax Rate
0.53%
Average Teton County Tax Rate
0.53%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wilson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83014 | 0.53% | 0.53% | 0.53% | 0.57% | 0.59% |
Source: Ownwell
Property Tax Assessment Values Across Wilson, Wyoming
In Wilson, 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 Wilson, 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 Wilson helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill is found in zip code 83014, amounting to $15,898, which is significantly higher than the national median property tax rate of 0.99%.
Average Wilson Assessed Value
$2,898,415
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 Wilson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83014 | $872,854 | $1,548,418 | $2,898,415 | $5,415,884 | $10,054,309 |
Source: Ownwell
Property Tax Bills Across Wilson, Wyoming
In Wilson, located in Teton County, WY, property tax bills are determined by multiplying the assessed value of a property by the local tax rate. The assessed value is typically a percentage of the market value of the home. For instance, if a home in Wilson has a median home price of $2,898,415, the assessed value will be a portion of this amount, based on the county's assessment ratio. The local tax rate is then applied to this assessed value to calculate the tax bill. Factors such as property improvements, location, and market trends can influence the assessed value, impacting the final tax bill. Homeowners in Wilson can expect significant variations in their tax bills, with the 25th percentile at $8,762 and the 75th percentile reaching $29,287. High-value properties can see tax bills as steep as $53,689, reflecting the area's premium real estate market. These property taxes fund essential public services, but they can also represent a substantial financial consideration for homeowners.
Average Wilson Tax Bill
$15,898
Average Teton County Tax Bill
$11,160
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Wilson, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 83014 | $5,191 | $8,762 | $15,898 | $29,287 | $53,689 |
Source: Ownwell