Teton County Wyoming

Assessor

Calendar
Move your mouse over dates to show events for that day. Click on a date to see all information on events for that day.

No events found for 02/26/2017

Upcoming Events

Show
select

 

How Property Tax is Determined

Determining Property Taxes
Wyoming Statutes require all property to be valued at fair market value except for agricultural land which is valued by its productive capability. The fair market or productive value is given on the Assessment Schedule, also called a Notice of Assessment.

Terms
To determine the final tax amount, there are a few terms which must be understood:

  • Appraised Value: The fair market value (what the property could reasonably be expected to sell for) of the property.
  • Assessment Rate: The percentage of appraised value which determines the Assessed Value. The Assessment Rate is 9.5% for agricultural, commercial, and residential property, 11.5% for industrial, and 100% for minerals.
  • Mill: Literally one thousandth, mill means $1 of taxes for every $1,000 of Assessed Value and is the Tax Rate or Mill Levy. The average Mill Levy in Teton County is 57 mills or about $5.70 per $1,000 of appraised or market value.

Formulas
The formula for determining actual tax dollars is as follows:
  • Appraised Value x Assessment Rate = Assessed Value
  • Assessed Value x Mill Levy (Tax Rate) = Tax Dollars

The following is an example of how the tax amount for residential property is determined:
Appraised Value of property

$200,000

Assessment Rate (9.5%)

x 0.095

Assessed Value of property

$19,000

Mill Levy / Tax Rate (64 mills)

x 0.064

Amount of Taxes

$1,216


Effective Tax Rate
The Effective Tax Rate equals the amount of taxes divided by the property value. This is the rate used to compare the tax burden from one area to the next.

In our example, it is $1,216 ÷ $200,000 = 0.0068 or 0.608%.

At the bottom of the Assessment Schedule or Notice of Assessment sent in April of every year, an estimated tax is given as well as the previous year's tax amount. The estimate is based on the previous year's Mill Levy for your tax district. The Treasurer's Office sends your actual tax bill in September after the County Commissioners, school boards, towns, and special districts have held their budget hearings and the final Mill Levies have been confirmed by the County Commissioners.

If you have any questions regarding your property's valuation, please contact the Assessor's Office at (307) 733-4960.

Phone: (307) 733-4960
Fax: (307) 732-8444

Teton County Administration Building, P.O. Box 583
200 South Willow Street
9 AM - 5 PM Monday thru Friday

Mission Statement

Fair, uniform, and equitable appraisals within the law.

It is the statutory duty of the Assessor`s office to locate, identify, and value all taxable property in Teton County. We are mandated and prescribed by state law on how we perform our assessments and when we perform our assessments.


Web Disclaimer Neither Teton County, nor the Teton County Assessor`s Office, nor any officer or employee of the Assessor`s Office, warrants the accuracy, reliability or timeliness of any information in the Public Access System and shall not be held liable for any losses caused by such reliance on the accuracy, reliability or timeliness of such information. Portions of such information may be incorrect or not current. Any person or entity that relies on any information obtained from the system does so at his or her own risk.

Loading map...