Property Taxes
Because Wyoming does not impose an income tax, local governments largely rely on property tax collections. In fact, in 2010, the State collected just over $1.36 billion in property taxes on a state-wide assessed value of $21.3 billion. Almost 60% 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. |
