General Information
Commercial & Industrial
Commercial and industrial property assessment, both real and personal, is performed by the local County Assessor’s offices. The Property Tax Division directs this process through assisting, monitoring and training. The Department also implements and maintains a uniform CAMA (Computer Assisted Mass Appraisal) system in all 23 counties.
The Property Tax Division annually publishes the Wyoming Personal Property Manual which provides guidance to County Assessors and other interested parties regarding the discovery, listing, classification, and valuation of commercial & industrial personal property for ad valorem tax purposes. See Publications below.
By March 1st of every year all agricultural, business and industrial personal property shall be reported to the County Assessor in which the property is located. See Forms below for the reporting of personal property.
Annual Reappraisal
Wyoming State Statute requires that County Assessors annually update property values. Assessors are also required to complete a detailed review of real property characteristics for each property at least once every six years. The State Board of Equalization may take corrective action if county assessments do not meet established standards. Visit the Wyoming State Board of Equalization website for further guidance.
Rules
Appraisal of property within each county should adhere to the Wyoming Department of Revenue Rules and Regulations.
Chapter 9 - Methodology & Assessment
What is Taxed?
Property taxes are one of the primary sources of funds for local governments, counties, school districts, cities, towns and special agencies such as water and sewer districts.
Property taxes are based upon the market value of your property. Market value reflects the worth of your property as of January 1 of each tax year.
All commercial and industrial structures and land are valued as real property. All commercial and industrial machinery, equipment, furnishings, tools, aircraft, watercraft and supplies not held for resale are valued as personal property.
Market Value vs. Taxable Value
Market value is the price your property would sell for if it were offered for a reasonable amount of time. This assumes that both the buyer and seller are unrelated, well-informed and under no pressure to buy or sell the property.
Taxable value is the value used to calculate taxes due on your property. Commercial property is assessed at 9.5% of market value. Industrial property is assessed at 11.5% of market value.
Example:
• Commercial market value $100,000
• Commercial assessment rate = 9.5%
• Taxable value ($100,000 x 0.095 = $9,500)
Tax Rates
Tax rates or mill levies are set by the various political entities with the legal power to levy taxes. These Governmental entities include counties, school districts, cities, towns and special taxing districts (such as water and sewer districts and cemetery districts).
Your tax notice indicates the amount you pay to each taxing entity. To calculate your taxes, multiply your taxable value by the tax rate.
Example:
• If the total tax rate was 68 mills, the formula would look like this:
• Taxable Value x Tax Rate = Tax Due or $9,500 x 0.068 = $646.00
Taxes are due and payable at the office of the County Treasurer of the county in which the taxes are levied. Fifty percent (50%) of the taxes are due by November 10 in each year and the remaining fifty percent (50%) of the taxes are due by May 10 of the succeeding calendar year. If the entire tax is not paid on time, interest may be charged.
Appeal Process
Appeals must be filed with the County Assessor in which your property is located no later than 30 days from the date of the Assessment Notice. Your appeal must address the issue of market value, not the tax rate. Evidence supporting your estimation of the market value must be included in the appeal. If you do not agree with the County Board of Equalization’s decision, you may appeal to the State Board of Equalization. Appeals to the State Board of Equalization must be filed within 30 days from the entry of a decision of a County Board of Equalization or upon the date of mailing of the decision as evidence by a legal postmark, whichever is later.
For More Information
Contact your County Assessor if you have questions regarding property value, ownership, addresses, legal descriptions, tax relief, tax rates and valuation appeals. Contact your County Treasurer if you have questions regarding tax payments. See the Property Tax Events Calendar for important dates related to property taxation.