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Wyoming Property Tax

Wyoming Property Tax is based on the assessed value of real property, which is done at local level, by county assessors. The Wyoming Department of Revenue has an Ad Valorem Tax Division to supervise the process of property assessment in all counties and also to provide training and guidance to local government agencies. Assessed value of a property means taxable value, which is the basic component for the computation of property taxes in Wyoming.

Wyoming Property Tax does not apply to the full market value of a property, but only a fraction of it is considered for the computation of real estate tax. This system is called fractional assessment. For most property in Wyoming , the fraction of the full market value considered for the property tax purpose is only 9.5 percent. This means that a home with a fair market value of $100,000 will be taxed $9,500 in assessed value. The effect of this is to exempt $90,500 of the property's value from taxation.

Wyoming Property Tax Rate

Furthermore, the property tax law of the state protects Wyoming Property Tax Rate from increasing beyond a certain limit. For example, Wyoming County Property Tax Rate cannot exceed 12 mills of assessed value. On the other hand, the property tax rate for towns and cities should be within the maximum limit of 8 mills. Besides there are several property tax relief programs available in various counties of Wyoming for qualified residents.
Wyoming Homeowner's Tax Credit, Veteran's Exemptions, Tax Reduction on Agricultural Property and WY Property Tax Deferral are some of property tax relief programs in Wyoming. You can find a lot of relevant resources regarding Wyoming Property Taxes in the official site of Wyoming Department of Revenue.


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