Wyoming Property Tax

Effective Property Tax Rate

58.19%

Median Annual Tax

$1,659

Median Home Value

$285,100

Wyoming Property Tax Overview

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1. Key Statistics (2023 ACS)

Indicator	Value
Median home value	$285,100
Average effective property tax rate	0.58 %
Median annual property tax	$1,659
Rank among U.S. states/territories (by effective rate)	#16 of 52
National average effective property tax rate	0.97 %
Difference from national average	39.87 % lower

According to the U.S. Census Bureau’s American Community Survey (ACS) (5‑year estimates, 2023), these figures represent the statewide median and average values for Wyoming.

2. How the Wyoming Property Tax Rate Is Applied

Wyoming calculates property taxes as a percentage of assessed property value. The effective tax rate of 0.58 % means that, on average, a homeowner pays 0.58 % of the property's market value in taxes each year.

Example Tax Bills

Assessed Home Value	Approximate Annual Property Tax*
$250,000	$1,455
$500,000	$2,909

*Calculated by applying the 0.58 % effective rate (e.g., $250,000 × 0.0058 = $1,455).

3. Comparison to the National Landscape

Effective rate: Wyoming’s 0.58 % is 0.39 % points lower than the national average of 0.97 %.
Relative difference: This places Wyoming 39.87 % below the national average effective property tax rate.
Ranking: With the 0.58 % rate, Wyoming ranks 16th among the 52 U.S. states and territories, indicating a comparatively low tax burden.

4. Variation by County

Property tax rates in Wyoming are not uniform across the state. Each of the 23 counties sets its own millage rates and may apply additional levies for schools, fire districts, or other local services. Consequently, the effective Wyoming property tax rate can be higher or lower than the statewide average of 0.58 % depending on the specific county and the mix of local assessments.

5. Implications for Specific Groups

Retirees

Retirees often consider overall cost of living, including property taxes. Based on the median annual property tax of $1,659 and the lower-than‑national effective rate, Wyoming’s property tax environment is comparatively inexpensive relative to many other states. However, retirees should also evaluate other factors such as state income tax (Wyoming has none), sales tax, and local service fees.

Landlords

For landlords, property tax is a recurring expense that influences cash flow. The 0.58 % effective rate translates to lower tax payments per dollar of property value than the national average, potentially reducing operating costs. Nevertheless, landlords must account for county‑specific rates and any additional local assessments that could affect the total tax liability on rental properties.

All statements above are factual and based on the ACS data; they do not constitute a recommendation.

6. Frequently Asked Questions

Question	Answer
What is the average effective Wyoming property tax rate?	The average effective rate is 0.58 %, according to the 2023 ACS 5‑year estimates.
How does Wyoming’s property tax compare to the national average?	Wyoming’s rate is 39.87 % lower than the national average of 0.97 %, making it one of the lower‑rate states.
Do property tax rates vary across the state?	Yes. Each county sets its own millage rates and may impose additional local levies, so actual rates can differ from the statewide average.

Source: According to U.S. Census Bureau data from the American Community Survey (ACS) 5‑year estimates for 2023.

Neighboring States