Notice Of Valuation

IMPORTANT INFORMATION REGARDING THIS NOTICE

Except as otherwise provided by law for specific or exempt property, all property shall be appraised at Fair Market Value January 1 of each year.

•    This Notice of Value is not your tax bill, it is an estimate using the 2022 mill levies.  After the County Commissioners set the mill levy in August 2023, the County Treasurer will mail your bill in September 2023.   

•    Property is valued using Mass Appraisal standards as set by the International Association of Assessing Officers (IAAO) along with statutory and rule requirements of the Wyoming Department of Revenue and the Wyoming State Board of Equalization.

•    Wyoming is a fractional assessment state.  Your taxes are calculated on the assessed value, which is 9.5% of Fair Market Value. 

•    Wyoming does not cap property tax increases by a fixed percentage.

•    Wyoming is a market driven state, therefore surrounding sales will have a direct impact on your property taxes. 

Why did my value increase?

While property values can change year to year based upon physical reviews, corrections, and cost table changes, the local real estate market continues to be the biggest contributing factor.  Local real estate publications report that as available housing inventory hit a record low in 2022, the dollar volume of sales set a record high.  As the assessor must use current sales data to set property value, this market activity has dramatically affected your home’s value.    

What do my property taxes pay for?

In a state-wide comparison of assessed valuation for 2022, Teton County was ranked the 2nd highest of 23 counties.  Property taxes were distributed as follows in 2022:

Local School:  56.9%        State School:  21.1%            Conservation District:  1.4%

Hospital District:  5.3%    Weed and Pest District:  1.8%        County Fund:  13.6%

Veterans:

Veterans Exemption:  Eligible Veterans may qualify for a reduction of property taxes for their primary residence or vehicle registration.  Please contact our office for eligibility requirements.  

Veterans, you must notify the Assessor’s Office each year before the 4th Monday in May by telephone, mail or other communication pursuant to W.S. 39-13-105(m) that you wish to use your Veterans Exemption again this year.  

What if my “Total Valuation used to Calculate Tax” is inaccurate?

You must contact the Assessor’s Office no later than thirty (30) days after the “Date Mailed” on the reverse side of this notice.  We will review property characteristics and discuss pertinent information that contributed to the total valuation.  To formally contest the value, you must do so in accordance with Wyoming State Statute 39-13-109(b)(i).  Forms and instructions can be obtained from the Assessor’s Office.

Please visit http://tetoncountywy.gov/assessor for additional information on these topics and others.