Residential Properties

Properties

Formula for Tax Dollars

Fair Market Value x Level of Assessment = Assessed Value, Assessed Value x Mill Levy = Tax Dollars

Wyoming Statutes

The Wyoming State Constitution and State statutes detail the valuation and taxation of property in the state through the following articles and statutes:

Wyoming Constitution Article 15, Section 11

“(a) All property, except as in this constitution otherwise provided, shall be uniformly valued at its full value as defined by the legislature, in three (3) classes as follows:” (continued)

Wyoming Statute 39-13-103

“(b)(i) Except as otherwise provided: (A) All taxable property shall be annually listed, valued and assessed for taxation in the county in which located and in the name of the owner of the property on January 1;” (continued)

Wyoming Statute39-13-103

“(b)(ii) Property valued at fair market value. All property shall be annually valued at its fair market value. Except as otherwise provided by law for specific property, the department (Department of Revenue) shall prescribe by rule and regulation the appraisal methods and systems for determining market value using generally accepted appraisal standards.”

Additionally, Wyoming Statute 34-1-142 through 144 require the filing of a Statement of Consideration SOC) as part of each property transfer. These forms contain sales information. The statute also states that an individual SOC cannot be used to adjust the assessment on a property.