Because Wyoming does not impose an income tax, local governments largely rely on property tax collections. In fact, in 2012, the State levied just over $1.606 billion in property taxes on a state-wide assessed value of $25.2 billion. Nearly 64% of these revenues come from minerals production and 69% 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 ASSESSES PROPERTY FOR TAX PURPOSES AS FOLLOWS:
TO SEE WHAT A MILL GENERATES IN EACH COUNTY, SEE THE FOLLOWING TABLE:
- 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
HOW DO MILL LEVIES WORK?
A mill levy is the number of dollars in taxes that a property owner must pay for every $1,000 of assessed value. County Commissioners establish the total mill levy for each tax district based on budget requests from the various taxing entities within the district boundaries. An illustration of the various taxing jurisdictions in Wyoming can be found below.
Tax amounts are derived by multiplying the assessed value by the amount of the mill levy that applies for the location of the property. Remember, one mill is $.001 (1/1000 of a dollar).
Wyoming offers a number of property tax relief programs for the citizens of the state, including:
Veteran's Property Tax Exemption
Property Tax Refund Program
Tax Rebate to Elderly and Disabled Program
Property Tax Deferral Program
Click here to see more information on each program: Current Property Tax Assistance Programs.