Tag Archive for: property taxes

How to Calculate Jackson, WY Property Taxes

Wyoming has a well deserved reputation for low taxes, having no state personal or corporate income tax, and having a very low property tax rate. Here’s how to calculate property taxes in Jackson Hole (Teton county, Wyoming).

Property taxes are calculated by multiplying the mill levy by the assessed value, and the assesed value is equal to the market value times 9.5%. The mill levy is generally given as an amount per $1000 dollars of value, so before multiplying the levy by the assessed value, you should move the decimal point on the levy to the left by three places. Here’s an example.

Let’s say the property is worth $1,000,000, and the mill levy is $57.42.

Multiply $1,000,000 (market value) by 9.5% to get $95,000 (assessed value).

Now multiply $95,000 (assessed value) by 0.05742 (mill levy divided by $1,000) to get $5,454.90 (annual taxes). That’s it!

By way of recognizing how low that is, the annual taxes on that property work out to be just over half a percent of the value of the property, while in Texas, the taxes would be over 3% of the value of the property.

Now that you know how, I’ll show you an easier way…click here and enter the owner’s name or street address of the property. The county treasurer’s website will not only tell you the amount of the current taxes, but whether they have been paid, and what the taxes for the past few years have been. Are yours paid up?