Example of Laramie County Property Tax Calculation
Laramie County calculates property tax based on the assessed value of the property. To calculate the property tax, the county multiplies the assessed value by the mill levy rate. The mill levy is a rate used to determine the amount of tax due based on each $1,000 of assessed value.
For example, if a property is assessed at $100,000 and the mill levy rate is 50, the property tax would be calculated as follows:
$100,000 assessed value รท $1,000 = 100 (total $1,000 increments in assessed value) 100 x 50 mill levy rate = 5,000 (total property tax due)
Therefore, the property owner would owe $5,000 in property taxes for the year.
It is important to note that Laramie County's mill levy rate can vary depending on the location and type of property. Property owners should consult with their local assessor's office to determine the specific mill levy rate for their property.
If you want appeal your property tax assessment - contact your local tax assessor.
Laramie County Property Tax Rates
Laramie County Property Tax Rates for 2021
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County General Fund | $0.4299 |
| County Library Fund | $0.0355 |
| County Capital Fund | $0.0025 |
| County Fire District Fund | $0.5000 |
| School District #1 Fund | $10.3750 |
| School District #2 Fund | $11.8320 |
| School District #5 Fund | $9.5200 |
These are the current property tax rates in Laramie County for the year 2021. The table above shows the various tax rates per $100 of assessed value for different funds, including the County General Fund, County Library Fund, County Capital Fund, County Fire District Fund, and various School District Funds. It's important to note that these rates may vary depending on the specific location and property.
Who sets property tax rates in Laramie County ?
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Who sets property tax rates in Laramie County? Laramie County Board of County Commissioners sets the property tax rates in Laramie County.
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When are property tax rates set in Laramie County? Property tax rates are set annually during the budget process which typically occurs in August or September each year.
Here are some additional details:
| Entity | Role |
|---|---|
| Laramie County | The county entity responsible for setting the property tax rate in Laramie County |
| Board of County Commissioners | The elected officials who make up the governing body of Laramie County, responsible for setting the annual budget and property tax rates |
| Budget process | The annual process where Laramie County determines its revenue needs and sets the property tax rates accordingly |
It's important to note that property tax rates can vary depending on the specific location and property type within Laramie County.
Homestead exemptions in Laramie County ?
Table of Homestead Exemptions and Deductions in Laramie County, Wyoming
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| General Exemption | All homeowners | Up to $5,000 | Reduces assessed value of property by up to $5,000 |
| Senior Exemption | Homeowners 65 or older | Up to $3,000 | Reduces assessed value of property by up to $3,000; income restrictions apply |
| Disabled Exemption | Homeowners with disabilities | Up to $3,000 | Reduces assessed value of property by up to $3,000; income restrictions apply |
| Widowed Exemption | Surviving spouses | Up to $5,000 | Reduces assessed value of property by up to $5,000; must have been receiving exemption before spouse's death |
| Military Exemption | Active-duty military | Up to $4,500 | Reduces assessed value of property by up to $4,500; must be stationed outside the state |
| Agricultural Land Exemption | Agricultural land owners | Varies based on size | Reduces assessed value of agricultural land by a percentage based on size and use |
Notes:
- Homeowners may only receive one exemption at a time.
- To be eligible for the senior or disabled exemption, homeowners must have an annual income of less than $41,700.
- To apply for these exemptions, homeowners must file an application with the county assessor's office.
- The agricultural land exemption is only available to landowners who use the land for agricultural purposes.
When is Laramie County Property Tax due ?
Laramie County Property Tax is typically due on the first Monday in December every year. The payment methods available for Laramie County Property Tax include online payment, in-person payment, and payment by mail.
| Payment Method | Payment Details |
|---|---|
| Online Payment | Laramie County's website allows you to pay online with an e-check or credit/debit card. A convenience fee is assessed for credit/debit card payments. |
| In-person Payment | You can pay in person at the Laramie County Treasurer's Office during regular business hours. The address is 309 West 20th Street, Suite 1200, Cheyenne, Wyoming. |
| Payment by Mail | You can mail your payment to the Laramie County Treasurer's Office at P.O. Box 608, Cheyenne, Wyoming 82003. Make sure to include the payment stub with your payment. |
It is important to note that failure to pay property tax on time can result in late fees and penalties. It is recommended that taxpayers make their payments well in advance of the due date to avoid any issues.
If you have more questions - contact your local tax collector.
How is Laramie County Property Tax penalty calculated ?
Laramie County Property Tax Penalty Calculation Process
The Laramie County Property Tax Penalty is calculated based on the number of days the property tax payment is late. Here is a step-by-step guide to help you understand how the penalty is calculated:
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The property tax payment is due on November 10th of each year.
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If payment is not made by November 10th, a 1% penalty is assessed on the total tax due.
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For each consecutive month that payment is not made, an additional 1% penalty is added to the total tax due.
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The penalty can increase up to 15% of the total tax due, if no payment is made for 12 months or more.
Example:
Suppose a property owner in Laramie County owes $5,000 in property taxes for the year 2021. If the payment is not made by November 10th, a 1% penalty of $50 will be added to the total tax due. If payment is not made by December 10th, an additional 1% penalty of $50 will be added to the total tax due, making the total penalty $100. If the payment is not made for the next 10 months, the penalty will increase to 15% of the total tax due, which is $750, making the total amount due $5,750.
In conclusion, it's important to pay property taxes on time to avoid penalties and additional fees. The calculation of penalties is straightforward and can be avoided by ensuring timely payments.
We recommend contacting the Laramie County Tax Office or a local tax professional for the most up-to-date and accurate information.