August 11, 2022 |
During last month’s televised gubernatorial debate in Riverton, one of the surprise topics was property taxes.
Although each county in the state sets its own rate, Wyoming has one of the lowest median property taxes in the United States. At $1,058 annually, only 11 states collect a lower median property tax. As a percentage of income, Wyoming’s property tax is ranked 41st among the 50 states. Of course, percentages and median values vary from county to county in Wyoming.
When the issue came up during the lightning round portion of the debate between the three candidates for governor, each gave a quick 20-second answer with no follow-ups allowed. Rex Rammell offered the most radical remedy. Rammell said he wants to get rid of property taxes altogether.
Pictured above: Photo by Jim O’Reilly.
Brent Bien was more selective, saying property taxes could be reduced or eliminated for seniors, as the mill levy on real estate hurts residents on fixed incomes the most.
Governor Mark Gordon agreed with his two challengers. The governor indicated relief could only be provided by changing the state constitution.
Section 5 of Article 15 of the Wyoming Constitution allows each county to set a levy not to exceed 12 mills on the dollars to raise revenues for all purposes except payment of its public debt or the related interest. The mill levy in Carbon County is 12 mills.
Still Carbon County residents pay some of the lowest property taxes in the state. The median tax here is $615, according to tax-rates.org, lower than the median statewide rate of $1,000. Some counties pay more. Each is different. At $1,232, Albany County residents pay above the state median. Platte, Niobrara and Weston Counties are lower than Carbon, at $601, $593 and $579 respectively. Teton County, of course, has the highest median property tax in Wyoming: $3,496—more than three times Wyoming’s median rate.
The issue of property taxes increases hit homes after the land rush to Wyoming in the aftermath of the 2020 pandemic. With wealthy newcomers willing to pay higher than normal prices, property values rose, driving up taxes in some areas of the state.
Park County, for instance, saw spikes of 25 percent to 45 percent this year. Older residents on fixed incomes are paying up to two months of their Social Security benefits to the county for their annual property tax bill.
The situation is the same in Teton County where reports indicate 60 percent of residents there saw property tax spikes of 30 percent to 50 percent, again hitting older residents the hardest.
Carbon County Assessor Renee Snider said the situation is not as bad in southern Wyoming. Snider said prices in Carbon have only gone up about 10 percent, mostly because of inflation impacting the cost of materials.
Some states, like Arizona, cap property growth value at 5 percent per year. In 2021, Casper lawmaker Chuck Gray proposed HB 99, which would have capped property tax growth at three percent annually. Grey’s bill died on introduction into the House. A similar bill on the Senate side this year would have placed the cap at five percent. It died in the revenue committee on a 5-4 vote.
The issue is likely to come back up again when the Revenue Committee meets in September.
