Leave a Message

Thank you for your message. We will be in touch with you shortly.

Agricultural Tax Exemptions

main

How Properties Are Taxed in Wyoming

Wyoming is a fractional assessment state. This means that the taxable value is based on a portion of the full value. In Wyoming this fractional amount is 9.5% for agricultural property. To arrive at the assessed value multiply the total land value per acre times 9.5%. The assessed value is then multiplied by the appropriate tax district mill levy, to obtain the tax value. 

How does Wyoming determine if my land is agricultural?

Agricultural land must meet the following criteria.

Wyoming Uses the Following Points as Criteria for Land to Qualify as Agricultural Land for Tax Purposes

Four-step Valuation Process

Determining Value Once ownership has been identified, land use has been established and the productive capability has been tabulated for the parcel, a four-step valuation process begins:

This information is derived from the Wyoming Agricultural Statistics Service’s commodity price data. This information, which consists of all hay, all wheat and grazing prices, is converted to a 5 year weighted average.

This rate is based on the Farm Credit Services of Omaha’s Long Term Portfolio rates (with an added effective tax rate component), which are also converted to a 5 year weighted average.

To determine the net income, the unit price of each of the three commodities is multiplied by the production per acre. Next, the landlord share is determined, if applicable, then the expenses and production losses are deducted to establish a net income to the landlord.

The final step in the process is capitalizing the net income. The following formula illustrates the final step in the valuation process. Figuring the tax bill Wyoming is a fractional assessment state. This means that the taxable value is based on a portion of the full value. In Wyoming this fractional amount is 9.5% for agricultural property. To arrive at the assessed value multiply the total land value per acre times 9.5%. The assessed value is then multiplied by the appropriate tax district mill levy, to obtain the tax value.

main

Contact

Wyoming Department of Revenue

122 West 25th St., Herschler Building, 2nd Floor
West Cheyenne, WY 82002

Phone: 307-777-5431
Fax: 307-777-7527
http://revenue.state.wy.us

*This information is sourced from the Crook County website. 

Go to the Teton County website to understand how property in taxed in Teton County, WY

Work With Deirdre

" Deirdre is hands down one of the best real estate professionals we have ever worked with. At all stages of the journey. “ - Buyer, November 2021