A property tax in Wyoming is an ad valorem tax. Therefore, the more your property is worth, the higher your taxes are.
In order to tax the property, a taxable value must be determined. First, the County Assessor assigns the property a fair market value. Next, the fair market value is multiplied by a taxation rate to calculate the taxable value. The taxation rate depends on how the Assessor classifies the property.
Fair Market Value
x Taxation Rate
Properties are classified in one of three areas:
Gross production of minerals and mine products (taxed at 100%)
Property used for industrial purposes (taxed at 11.5%)
All other property, real and personal (taxed at 9.5%)