Florida vs Wyoming
Property‑Tax Comparison: Florida vs. Wyoming
Introduction
Both Florida and Wyoming attract buyers with relatively low property‑tax burdens compared with many other states. According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), Wyoming’s effective property‑tax rate is lower than Florida’s, resulting in smaller annual tax payments for comparable home values.
Side‑by‑Side Metrics
| Metric | Florida | Wyoming |
|---|---|---|
| Effective property‑tax rate | 0.79 % | 0.58 % |
| Median home value | $325,000 | $285,100 |
| Median annual property tax | $2,555 | $1,659 |
| Property tax on a $250,000 home | $1,966 | $1,455 |
| Property tax on a $500,000 home | $3,931 | $2,909 |
| Median household income | $71,711 | $74,815 |
| Florida property tax | ||
| Wyoming property tax |
All figures are drawn from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates).
Which State Has the Lower Tax Burden?
Winner (lower effective rate): Wyoming
- Rate difference: 0.20 percentage points, which is a 25.99 % lower rate than Florida’s 0.79 % (0.20 ÷ 0.79 ≈ 0.2599).
- Annual tax difference on a $250 k home: $511 less in Wyoming ($1,966 – $1,455).
- Annual tax difference on a $500 k home: $1,022 less in Wyoming ($3,931 – $2,909).
The lower effective rate translates directly into lower property‑tax payments for identical home values, making Wyoming the “winner” in a pure tax‑rate comparison.
Who Is This Comparison Most Relevant For?
| Audience | Relevance |
|---|---|
| Current or prospective homeowners | The table shows the expected yearly tax outlay for median‑priced homes and for specific price points ($250 k and $500 k). Buyers can use these numbers to estimate cash‑flow implications. |
| Retirees and fixed‑income households | Since property taxes are a recurring expense, a lower rate (Wyoming) may ease budgeting for those on fixed incomes, especially when combined with the states’ median household incomes. |
| Real‑estate investors | Investors assessing total cost of ownership will see that, all else equal, Wyoming offers a lower tax expense on comparable assets. |
| Policy analysts or researchers | The side‑by‑side data provide a concise reference for studies on tax burden, affordability, and state fiscal policy. |
The comparison does not address other fiscal factors such as sales taxes, income taxes, or public‑service quality, which may also influence a household’s overall cost of living.
Sources
- U.S. Census Bureau, 2023 American Community Survey (5‑year estimates) – property‑tax rates, home values, and median household incomes.
All figures are presented exactly as reported in the ACS dataset; no adjustments or assumptions have been applied.
Explore More Comparisons
Discover how property taxes compare across all states in our comprehensive comparison guide.
Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.