Wyoming has one of the lowest property tax burdens in the nation, with a statewide effective rate of roughly 0.53%. The state assesses residential properties at just 9.5% of their fair market value. In 2024, Wyoming aggressively expanded taxpayer protections by enacting a strict 4% cap on annual property tax increases for primary homes and creating massive exemptions for long-term senior residents (est., Tax Foundation 2026 / U.S. Census ACS 2023).
Wyoming funds much of its state and local government through severance taxes on mineral extraction, which keeps property taxes extremely low for residents. In addition to a low statewide average, the Wyoming legislature recently passed sweeping reforms to protect homeowners from the state’s booming housing market, ensuring that retirees and long-time residents are not taxed out of their homes.
The 9.5% Assessment Ratio and Reappraisals
In Wyoming, property is assessed at a fraction of its total value depending on its use class. While industrial property is assessed at 11.5% and mineral production at 100%, residential real property is assessed at just 9.5%.
For example, if your County Assessor determines your home has a Fair Market Value of $300,000, your Assessed Value for tax calculation purposes is only $28,500. Your local tax rate (mill levy) is then applied against that $28,500 figure.
County Assessors must update valuations annually using mass appraisal techniques based on local real estate sales. Additionally, state law requires a mandatory physical inspection of every property at least once every six years.
Wyoming statewide effective rate. On a $300,000 home, expect approximately $1,590 per year at the statewide average. (est., Tax Foundation 2026 / Census ACS 2023).
| Home Value | Annual Tax (est.) | Monthly Payment | vs. U.S. Average |
|---|---|---|---|
| $200,000 | $1,060 | $88 | -$740 below avg. |
| $300,000 | $1,590 | $133 | -$1,110 below avg. |
| $500,000 | $2,650 | $221 | -$1,850 below avg. |
| $750,000 | $3,975 | $331 | -$2,775 below avg. |
| $1,000,000 | $5,300 | $442 | -$3,700 below avg. |
Estimates use 0.53% statewide effective rate. U.S. average uses 0.90%. Source: est., Tax Foundation / Census ACS 2023.
The 4% Cap on Assessment Increases
In response to rapidly rising home prices, the Wyoming Legislature passed HB0045 in 2024. This law provides massive protection for homeowners by capping the annual increase in the taxable value of a single-family primary residence at just 4%.
Even if the market value of your home jumps by 15% in a single year, your taxable value can only go up by 4%. This cap applies automatically to the structure and the land it sits on.
The “Uncapping” Rule: The 4% cap is lifted if there is a transfer of ownership (the home is sold to a new owner) or if you add new construction/additions to the property. In those cases, the home is reassessed at its new, full market value.
Exemptions for Long-Term Homeowners and Veterans
Wyoming recently expanded its relief programs to heavily subsidize property taxes for seniors and veterans.
- Long-Term Homeowner Exemption (New for 2024): HB0003 grants a massive 50% exemption on the fair market value of a primary residence (up to the first $3 million in value). To qualify, the homeowner (or spouse) must be 65 years or older and have paid Wyoming residential property taxes for at least 25 years.
- Property Tax Refund Program: Homeowners with a total household income that does not exceed 145% of their county’s median income can apply for a direct refund. The state will refund up to 75% of your paid property taxes (not to exceed half of the median residential tax liability for your county).
- Veterans Exemption: Qualifying veterans receive a $6,000 reduction in the assessed value of their property, which translates to roughly $400 in direct tax savings every year.
Major County Tax Rates in Wyoming
Because Wyoming relies so heavily on mineral taxes, even its most populated counties maintain very low effective property tax rates. Fremont County (Riverton, Lander) has the highest rate among the top 10 at 0.65%, which is still far below the national average.
Teton County (Jackson Hole) is an outlier. Because home values in Jackson are stratospherically high, the county can fund all of its services with an incredibly low effective rate of 0.42%. While the rate is the lowest in the state, the actual dollar amount paid by Teton County residents is the highest due to multimillion-dollar property assessments.
| County | Effective Rate | Annual Tax on $300,000 Home | Notes |
|---|---|---|---|
| Laramie County | 0.58% | $1,740 | Includes Cheyenne (State Capital); most populous county. |
| Natrona County | 0.60% | $1,800 | Includes Casper; tracks slightly above state average. |
| Campbell County | 0.59% | $1,770 | Includes Gillette; heavy coal mining tax base. |
| Sweetwater County | 0.59% | $1,770 | Includes Rock Springs. |
| Fremont County | 0.65% | $1,950 | Includes Riverton/Lander; highest effective rate in top 10. |
| Albany County | 0.59% | $1,770 | Includes Laramie (UW). |
| Sheridan County | 0.53% | $1,590 | Matches the state average. |
| Park County | 0.58% | $1,740 | Includes Cody; strong tourism base near Yellowstone. |
| Teton County | 0.42% | $1,260 | Jackson Hole; lowest rate, but extremely high median home prices. |
| Lincoln County | 0.45% | $1,350 | Western Wyoming border; very low effective rate. |
Disclaimer and Methodology
This calculator provides estimates for planning purposes only, based on effective property tax rates (actual median taxes paid divided by median home values). Under Wyoming law, residential property is assessed at a fractional 9.5% of its fair market value, and annual increases are capped at 4%. Because exact mill levies vary by specific school and special districts, this calculator uses historical “effective rates” to bypass the complex fractional math and provide a highly realistic estimate of actual homeowner burden.
What this calculator does not account for:
- The “uncapping” of your home’s taxable value upon a sale. If you recently purchased your home, it will be reassessed at the new purchase price, meaning your initial tax bill will be higher than a long-term owner protected by the 4% cap.
- Income-based refunds, which are issued by the state *after* you have paid your county tax bill.
How to get an accurate estimate:
- Find your home’s “Fair Market Value” on your County Assessor’s property search tool.
- Multiply it by 0.095 to get your Assessed Value (subtract $6,000 if you have a Veterans Exemption).
- Multiply the Assessed Value by your local mill levy, and divide by 1,000.
Data sources: Statewide effective rate and county effective rates derived from U.S. Census Bureau ACS 2023 and SmartAsset aggregations. Statutory rules and the 2024 tax caps from the Wyoming Department of Revenue and 2024 Legislative Session laws.
Return to the National Property Tax Calculator to compare Wyoming with other states.
