| Wyoming Tax FAQ
What is Wyoming’s tax structure?
Wyoming has some of the lowest taxes in the nation. To see rates and revenues collected for sales and use, property, severance, lodging, alcohol, tobacco, business licensing and estate taxes, see our Tax Revenue Quick Reference.
In Wyoming, minerals play a major role in bringing in revenues to state and local government, in fact, it is estimated that minerals indirectly contribute up to 80% of the State’s revenue. See WTA’s Minerals Contribution to Wyoming’s Revenue – October 2009.
How is property valued in Wyoming?
Because Wyoming does not impose an income tax, local governments largely rely on property tax collections. In fact, in 2007, the State collected just over $1.37 billion in property taxes on a state-wide assessed value of $21.5 billion. Almost 68% of these revenues come from minerals production and the majority of the revenues from property taxes are directed to Wyoming's public schools.
Property is valued as it exists on January 1st of each year. Assessed values should go out no later than the 4th Monday in May and the County Treasurer’s Office sends bills in September. Bills may be paid 50% due by November 10th and 50% due the next May 10th.
Wyoming assess property for tax purposes as follows:
- Mineral production: 100% of fair market value;
- Industrial property – utilities, pipelines, railroads and manufacturing; 11.5% of fair market value;
- Residential real property, and commercial real and personal property: 9.5% of fair market value;
- Agricultural Lands; 9.5% of productivity value
To see what a mill generates in each county, see the following table: County-by-County Mills NEW
How do mill levies work? Who is responsible for assessing the mills? For a complete understanding of mill levies in Wyoming, see the following illustration: Mill Levy 101
To view property tax relief programs click here: Current Property Tax Assistance Programs.
To view a state-by-state comparison of property tax relief programs nationwide, click here.
What does the State of Wyoming offer in terms of property tax relief?
Wyoming currently offers a number of assistance programs for property taxes and other tax relief. For a brief explanation or to view qualifications for each, please refer to Wyoming's Current Property Tax Assistance Programs.
To download application forms, please click the appropriate link:
To find locations distributing applications, click the appropriate link:
To view a state-by-state comparison of property tax relief programs nationwide, click here.
Answers to Frequently Asked Questions
What is the average tax burden of the average Wyoming citizen? How does Wyoming compare?
Wyoming has some of the lowest taxes in the nation – and certainly, one of the lowest personal tax burdens per capita. With no corporate or personal income tax, state and local governments rely heavily on mineral revenues to keep services a float. To see a comparison of where Wyoming’s tax burden ranks nationally, see Wyoming’s Low Tax Burden.
Also see How Wyoming Compares, as compiled by the Wyoming Taxpayers Association – a quick guide to Wyoming state and local finance utilizing U.S. Census data.
Finally, to see how Wyoming’s taxes compare to our neighboring states, see WTA’s Fiscal Focus – How Wyoming Taxes Compare Regionally (includes Idaho, Montana, and Utah) |
