Newcastle, Wyoming Property Taxes
The median property tax rate in Newcastle, Wyoming is 0.69%, which is lower than the national median of 0.99% but slightly higher than the Wyoming state median of 0.65%. With the median home value in Newcastle at $125,669, the typical annual property tax bill amounts to $885, significantly below the national median of $2,690. Property taxes in Newcastle are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Newcastle's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Newcastle or another part of Weston County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Newcastle, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.69%
Estimate Property Tax Bill
$867
$805
Ownwell’s Newcastle Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Newcastle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Newcastle to provide an estimate of your property tax bill. This valuable tool helps you grasp potential tax liabilities. If you wish to explore trends at a neighborhood level, scroll down for more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, taking into account any applicable exemptions.
Property Tax Rates Across Newcastle, Wyoming
Property taxes in Newcastle, Wyoming, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Newcastle is 0.69%, which is lower than both the Wyoming state median and the U.S. national median of 0.99%. Local government entities within Newcastle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Newcastle 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 Newcastle's effective property tax rate to other counties in Wyoming and the national median. For comparison, the 82701 zip code has the highest median property tax rate of 0.69%, while the same 82701 zip code also has the lowest median tax rate of 0.69%. Understanding how these cities compare with Newcastle provides valuable insights into the varying tax landscape across Weston County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Newcastle Tax Rate
0.69%
Average Weston County Tax Rate
0.69%
Average Wyoming Tax Rate
0.65%
Average United States Tax Rate
0.99%
Property Tax Rates Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | 0.58% | 0.62% | 0.69% | 0.74% | 0.74% |
Source: Ownwell
Property Tax Assessment Values Across Newcastle, Wyoming
In Newcastle, 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 Weston 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 Newcastle, 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. The median home price in Newcastle is $125,669, with tax bills ranging from $211 at the 25th percentile to $2,576 at the 90th percentile. 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 Newcastle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Newcastle Assessed Value
$125,669
Average Weston County Assessed Value
$107,713
Average Wyoming Assessed Value
$247,958
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $11,556 | $31,808 | $125,669 | $229,487 | $379,959 |
Source: Ownwell
Property Tax Bills Across Newcastle, Wyoming
In Newcastle, Weston County, WY, property tax bills are calculated based on the assessed value of your home, which is determined by the county assessor. This assessed value is a percentage of your property's market value. The local tax rate is then applied to this assessed value to calculate your annual property tax bill. For instance, with a median home price of $125,669, homeowners in Newcastle can expect varying tax bills. At the 25th percentile, tax bills are around $211, while those at the 75th percentile reach approximately $1,623. The highest tax bills, at the 90th percentile, can go up to $2,576. These tax bills are influenced by factors such as property size, location, and improvements. Compared to the national median property tax rate of 0.99%, Newcastle's rates can be considerably lower or higher depending on specific circumstances. This variability affects homeowners by potentially altering their annual financial planning and, consequently, their overall cost of living.
Average Newcastle Tax Bill
$885
Average Weston County Tax Bill
$742
Average Wyoming Tax Bill
$1,635
Average United States Tax Bill
$2,690
Property Tax Bills Across Newcastle, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82701 | $71 | $211 | $885 | $1,623 | $2,576 |
Source: Ownwell