Wyoming (WY) property tax rate: 0.55% | Median home: $315,000 | Median annual tax: $1,733
Wyoming is a wide-open Western state with no income tax. The average effective property tax rate in Wyoming is 0.55%, which is below the national average of 1.1%.
On the median Wyoming home valued at $315,000, annual property taxes come to approximately $1,733 or $144/month. This is a significant part of your total housing cost and should be factored into any home purchase budget.
Pro tip: Wyoming has no income tax and one of the lowest property tax rates in the West.
Wyoming has no state income tax, which means property taxes are one of the primary revenue sources for local governments. While the property tax rate may seem moderate, the lack of income tax often makes the overall tax burden competitive.
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Wyoming has an average effective property tax rate of 0.55%. On the median home value of $315,000, that equals approximately $1,733 per year or $144 per month.
Property taxes in Wyoming are calculated by multiplying your home assessed value by the local tax rate. The assessed value may differ from market value depending on your county assessment ratio. Exemptions like homestead exemptions can reduce your taxable value.
Wyoming has no income tax and one of the lowest property tax rates in the West.
Wyoming property taxes are well below the national average of 1.1%. This is a genuine financial advantage for homeowners in Wyoming.
Property tax due dates vary by county in Wyoming. Most counties offer semi-annual payments. Check with your county tax assessor office for specific due dates. Late payments typically incur penalties of 1-2% per month.