Example of Sublette County Property Tax Calculation
Sublette County calculates property taxes based on the assessed value of the property. The assessed value is determined by the county assessor and is equal to a percentage of the property’s market value. The percentage varies depending on the type of property.
For example, if a residential property has a market value of $200,000 and the assessment rate for residential properties is 9.5%, then the assessed value would be $19,000.
Once the assessed value is determined, the county applies the mill levy to calculate the property tax. The mill levy is the amount of tax per $1,000 of assessed value.
For instance, if the mill levy for Sublette County is 80 mills, then the property tax would be calculated by multiplying the assessed value by the mill levy and dividing by 1,000. Using the previous example, the property tax would be $1,520 ($19,000 x 80 / 1,000).
It is important to note that property taxes may also be affected by other factors such as exemptions or tax credits.
If you want appeal your property tax assessment - contact your local tax assessor.
Sublette County Property Tax Rates
Here's a formatted table listing Sublette County Property Tax rates in US dollars per $100 of assessed value:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| County | $0.7942 |
| School District #1 | $3.2870 |
| Town of Big Piney | $8.2857 |
| Town of Marbleton | $8.5991 |
It's important to note that these rates may vary based on the specific property and any applicable tax exemptions or assessments. As a tax advisor, it's recommended to consult with a local expert for the most accurate and up-to-date information.
Who sets property tax rates in Sublette County ?
Who sets property tax rates in Sublette County?
The Sublette County Board of Commissioners is responsible for setting property tax rates. They do this annually during budget hearings in July, after reviewing the proposed budget for the upcoming fiscal year.
When are property tax rates set in Sublette County?
Property tax rates in Sublette County are set annually in July. The county's fiscal year runs from July 1st to June 30th of the following year, and the Board of Commissioners sets property tax rates during budget hearings for the upcoming fiscal year.
| Entity responsible for setting property tax rates | Time of year when rates are set |
|---|---|
| Sublette County Board of Commissioners | July |
Homestead exemptions in Sublette County ?
Here is a possible blog post addressing the prompt:
Homestead Exemptions and Deductions in Sublette County, Wyoming
If you own a home in Sublette County, Wyoming, you may be eligible for various property tax exemptions and deductions, collectively known as homestead benefits. These benefits can help reduce your property tax bill and increase your financial flexibility. In this post, we will list and describe all the county-specific homestead exemptions and deductions, along with their eligibility criteria, exemption amounts, and any notes to keep in mind.
Homestead Exemptions
Homestead exemptions are property tax breaks that reduce the assessed value of your primary residence. Sublette County offers the following homestead exemptions:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Primary Residence | All homeowners | 20% of assessed value | Applied automatically to the first $500,000 of assessed value |
| Senior Citizen | Homeowners aged 65 or older | 50% of assessed value | Limited to the first $800,000 of assessed value |
| Disabled Veteran | Honorably discharged veterans with 100% disability rating | 50% of assessed value | Limited to the first $800,000 of assessed value, applies to the primary residence and up to one acre of land |
Note: To qualify for the senior citizen or disabled veteran exemption, the homeowner must have lived in the primary residence for at least one year prior to the application.
Homestead Deductions
Homestead deductions are property tax reductions that apply to a specific amount of assessed value. Sublette County offers the following homestead deductions:
| Deduction | Eligibility | Amount | Notes |
|---|---|---|---|
| School Operating | All homeowners | $3,000 | Applied automatically to the first $500,000 of assessed value |
| County | All homeowners | $1,000 | Applied automatically to the first $500,000 of assessed value |
| Fire District | All homeowners | $1,000 | Applied automatically to the first $500,000 of assessed value |
| Cemetery | All homeowners | $500 | Applied automatically to the first $500,000 of assessed value |
Note: Homestead exemptions and deductions do not apply to other types of property, such as vacant land, commercial properties, or second homes.
To apply for homestead benefits, you need to submit an application to the Sublette County Assessor's Office. The deadline for applications is March 1st of each year. For more information, visit the Assessor's website.
By taking advantage of the homestead exemptions and deductions available in Sublette County, you can save money on your property taxes and improve your financial situation. Make sure to check your eligibility and submit your application on time to enjoy these benefits.
When is Sublette County Property Tax due ?
Sublette County Property Tax is typically due on the 1st of December each year. However, if the due date falls on a weekend or holiday, the deadline is extended to the next business day. The property owner is responsible for ensuring that their payment is submitted on time.
Payment methods for Sublette County Property Tax include:
-
Online Payment: Property owners can pay their property tax bill online using a credit or debit card, electronic check, or ACH (Automated Clearing House) payment.
-
Mail: Property owners can mail their payment to the Sublette County Treasurer's office. The mailing address is PO Box 250, Pinedale, WY 82941.
-
In-Person: Property owners can make their payment in-person at the Sublette County Treasurer's office, located at 21 South Tyler, Pinedale, WY 82941.
It's important to note that if payment is not received by the due date, penalties and interest may be assessed. Therefore, it's crucial to make timely payments to avoid additional fees.
If you have more questions - contact your local tax collector.
How is Sublette County Property Tax penalty calculated ?
Sublette County Property Tax penalty is calculated based on the amount of taxes that are not paid by the due date. The penalty is calculated as a percentage of the unpaid taxes and assessed monthly until the taxes are paid in full. Here's an example of how it works:
Let's say that Joe owns a property in Sublette County and his property tax bill for the year is $3,000. The due date for the taxes is October 31st, but Joe is unable to pay the full amount by that date. He pays $2,000 on time and leaves a balance of $1,000.
On November 1st, a penalty of 1% is added to the $1,000 balance, which brings the total amount due to $1,010. If Joe still does not pay by December 1st, another 1% penalty is added to the balance, making it $1,020. This continues each month until the taxes are paid in full.
Here's a table that shows how the penalty adds up over time:
| Month | Unpaid Balance | Penalty | Total Due |
|---|---|---|---|
| Oct | $1,000 | $0 | $1,000 |
| Nov | $1,010 | $10 | $1,010 |
| Dec | $1,020 | $10 | $1,020 |
| Jan | $1,030 | $10 | $1,030 |
So, if Joe waits until January to pay the remaining balance, he will have to pay a total of $1,030, which includes the original $1,000 plus $30 in penalties.
In summary, Sublette County Property Tax penalty is calculated as a percentage of the unpaid taxes and assessed monthly until the taxes are paid in full. It's important to pay property taxes on time to avoid accruing penalties.
We recommend contacting the Sublette County Tax Office or a local tax professional for the most up-to-date and accurate information.