Property taxes in Wyoming are assessed by counties, cities, towns, school districts and water and sewer districts. There is a residential reduction of 90.5%, so property is assessed at 9.5% of its market value. According to the Wyoming Department of Revenue, county assessors update property values annually and are required to do a detailed review of each property at least once every four years. Property tax rates are set by the local taxing entities.
Homeowners in Wyoming are protected against property tax increases. The county tax rate cannot exceed 12 mills and the city and town property tax rate is limited to 8 mills. Agricultural property qualifies for a tax reduction if the productive value of the land is less than its market value. Disabled veterans and their surviving spouses can qualify for a property tax exemption. Seniors, disabled and low income homeowners may qualify for the tax relief program. And the home owner’s tax credit or circuit breaker credit is offered when the state appropriates funds to reimburse the counties.
Wyoming homeowners who are veterans of the Second World War, the Korean War, or the Vietnam War can qualify for an exemption of $2,000 of the assessed value of their property. Also qualifying are veterans who received a medal for service in any armed conflict in a foreign country and veterans with a service-connected disability. Surviving spouses of veterans who meet any of those conditions also qualify provided they have been a Wyoming resident for at least three years and have not remarried. To apply for this exemption, you should file a Veterans Property Tax Exemption Application with your local county tax assessor by the fourth Monday in May.
Seniors and disabled homeowners
Wyoming homeowners who are age 65 or older or disabled can receive an annual tax refund of up to one-half the property taxes paid the previous year, but not more than one-half the median residential property tax liability in their county of residence. To qualify for this refund, you must have been a Wyoming resident for at least five years and your total personal assets must not be worth more than $100,000. This amount does not include the value of your home or one vehicle per household member. It also excludes your retirement accounts, such as IRAs, 401(k) plans, the cash value of life insurance policies, and medical savings accounts. Also, your household income cannot be more than three-fourths of the median household income in Wyoming or in the county where you live, whichever is greater.
To claim this refund you should file an application with your county tax assessor or the Wyoming Department of Revenue by the first Monday in June. You can find applications in Wyoming senior citizen centers or at the Wyoming Department of Revenue.
Property Tax – Wyoming Department of Revenue
Property Tax Forms – Wyoming Department of Revenue
Property Tax Refund Program – Wyoming Department of Revenue
Veterans Property Tax Exemption Application – Wyoming Department of Revenue