What is the property tax rate in Wyoming?
The property tax rate in Wyoming averages 0.53% of market value for owner-occupied homes (Tax Foundation 2026, using the 2024 American Community Survey). That puts Wyoming in the lowest group of states, alongside Colorado, Idaho, Nevada and Utah.
That headline figure is built from owner-occupied homes, and homes now get breaks that apartment buildings do not. For a building with five or more units, the more useful numbers are the 9.5% level of assessment and the total mill levy in your tax district.
How Wyoming property tax is calculated
Wyoming property tax is market value times the level of assessment times the mill levy. Under Wyoming Statute 39-13-103(b)(iii), industrial property is assessed at 11.5% of fair market value and all other property, real and personal, at 9.5%. Residential and commercial property, including apartment buildings, fall in the 9.5% group.
The result is assessed value, also called taxable value. Local taxing districts then apply their levies in mills, where one mill is $1 of tax for each $1,000 of assessed value. A building worth $1,000,000 has an assessed value of $95,000, and in a district levying 70 mills it owes $6,650 a year.
| Property type | Level of assessment | Assessed value per $1,000,000 of market value |
|---|---|---|
| Residential, including apartments | 9.5% | $95,000 |
| Commercial | 9.5% | $95,000 |
| Industrial | 11.5% | $115,000 |
How mill levies add up in Wyoming
Your total levy is the sum of every district that covers your parcel: the state school foundation levy, the county, the county school fund, your school district, and often a city, community college, library and smaller districts.
The Laramie County Treasurer’s published breakdown for Cheyenne in 2019 shows how this works: 12 mills to the state school foundation fund, 26 to School District #1, 6 to the county school fund, 10 to the county, 2 to the library, 6.90 to the community college, 8 to the city, 0.80 to weed and pest control and 0.5 to the conservation district, for 71.70 mills. Parcels in the downtown development district or the solid waste district paid more. Levies change each year, so ask your county treasurer for the current total for your tax district.
Wyoming property tax rates by county
We could not confirm a current table of total levies for all 23 counties, so this page does not rank them. The Wyoming Department of Revenue reports county levies in its annual reports, and each county treasurer lists the levies for its tax districts. Because the 9.5% assessment level is the same everywhere, differences between counties come down to their mill levies and to market values.
For an apartment owner, the useful comparison is levy against levy. A 10-mill difference on a $2,000,000 building is $1,900 a year, which at a 6% cap rate is worth about $31,700 of value.
How Wyoming sets market value
County assessors must update values every year, so your assessment reflects market value as of January 1 of each tax year, according to the Department of Revenue. Each property’s characteristics must also be reviewed in detail at least once every six years.
Market value means the price the property would bring after a reasonable marketing period between unrelated, informed parties under no pressure to act. Assessors follow the Department of Revenue’s rules, including its chapter on valuation methodology. Home furnishings are not taxed, except in furnished rental properties, so a furnished unit can add personal property to the bill.
Does a sale trigger reassessment in Wyoming?
A sale is not a separate trigger, because Wyoming already revalues every property each year. What a sale does is give the assessor a fresh, arm’s-length price, and that price can feed into next year’s market value for your building and its neighbors.
For single-family homes the rule is sharper. Wyoming Statute 39-11-105(a)(xliii) and (xliv) limit increases in a single-family home’s assessed value to 4% a year, but the limit does not apply in the year after the owner acquired the property. Apartment buildings are not covered by that limit at all, so their value tracks the market every year whether or not they sell.
Do Wyoming’s new property tax exemptions cover apartments?
No. Wyoming’s recent property tax relief is aimed at owner-occupied single-family homes. Senate File 69 (2025 Enrolled Act 60) exempts 25% of the fair market value of a single-family dwelling, on the first $1,000,000 of value, starting with tax year 2025, and from tax year 2026 the owner must live in it at least eight months a year. The long-term homeowner exemption takes 50% off the first $3,000,000 for owners 65 or older who have paid Wyoming residential property tax for 25 years or more, on a primary residence designed for four or fewer families.
The gap is easy to see in numbers. At 70 mills, a $400,000 owner-occupied home that takes the 25% exemption owes $1,995 instead of $2,660. An apartment building pays on its full value, with no exemption and no 4% limit on increases.
One more change is pending. Proposed Initiative Proposition Number One is on the November 3, 2026 general election ballot and, if approved, would exempt 50% of the assessed value of a qualified homeowner’s primary residence. Like the current exemptions, it is aimed at owner-occupied homes. An apartment building with five or more units fits none of these. Other relief, such as the veterans’ $6,000 assessed value exemption and the property tax refund program, is tied to a primary residence or household income.
How to appeal your property value in Wyoming
You must file an appeal with your county assessor no later than 30 days from the date of your assessment notice. The appeal goes to the county board of equalization and must be about market value, not the tax rate, with evidence for the value you think is right.
If you disagree with the county board, you can appeal to the State Board of Equalization within 30 days of the board’s decision being entered or mailed, whichever is later. For an apartment building, the best evidence is usually the rent roll, operating statements and recent sales of similar buildings. Mark the notice date on your calendar the day it arrives, because 30 days passes quickly and a late filing loses the appeal for that year.
- Within 30 days of the assessment notice date: file with the county assessor.
- Within 30 days of the county board’s decision: appeal to the State Board of Equalization.
- Taxes are due in two halves: by November 10 and by May 10 of the following year.
Worked example: property tax on a $2M Wyoming apartment building
These figures illustrate the method. The 70-mill levy is an assumption, close to the 71.70 mills Laramie County listed for Cheyenne in 2019; use your district’s current levy for real underwriting.
Take a 24-unit building in Cheyenne with a market value of $2,000,000. Its assessed value is 9.5% of that, or $190,000. At 70 mills the yearly tax is $13,300, about 0.67% of market value. At 60 mills it would be $11,400, and at 80 mills $15,200.
Now the sale. Say the building sells for $2,200,000 and the assessor moves next year’s value to match. Assessed value becomes $209,000 and the tax rises to $14,630 at 70 mills, $1,330 more a year. At an illustrative 6% cap rate, that extra cost takes about $22,000 off what a buyer would pay, a small effect next to states that reset taxes sharply on sale.
| Scenario | Assessed value | Yearly tax |
|---|---|---|
| $2,000,000 value at 70 mills | $190,000 | $13,300 |
| $2,000,000 value at 60 mills | $190,000 | $11,400 |
| $2,000,000 value at 80 mills | $190,000 | $15,200 |
| Revalued to $2,200,000 at 70 mills | $209,000 | $14,630 |
Wyoming compared with its neighbors
On the Tax Foundation’s 2026 effective rates for owner-occupied homes, Wyoming’s 0.53% sits close to Colorado and Idaho at 0.50% and Utah at 0.48%, below Montana at 0.61%, and well below South Dakota at 1.00% and Nebraska at 1.44%.
Those rankings flatter Wyoming less for apartments than for homes. A single-family owner can now take 25% off the first $1,000,000 of value, while an apartment owner pays on the full 9.5% assessment. When you compare buildings across state lines, run the actual levy and assessment rules for each one rather than the state averages.
Effective rate or mill levy: which one to use
Use the mill levy and the 9.5% assessment level for your own building, and the 0.53% effective rate only to compare Wyoming with other states. The Tax Foundation figure divides median taxes paid by median home value for owner-occupied homes, so it says nothing about the levy in your tax district or about property that does not get the homeowner exemptions.
A simple check works for any Wyoming apartment building: multiply the levy in mills by 0.0095 to get the tax as a percentage of market value. A 70-mill district works out to 0.665%, and an 80-mill district to 0.76%.
What to gather on property tax before you sell
Buyers will ask to see the paper behind the tax line on your operating statement.
- The last three assessment notices and tax bills, with the tax district and total levy shown.
- Proof of which installments, due November 10 and May 10, have been paid.
- Any pending appeal before the county or State Board of Equalization.
- A list of furnished units, since furnishings in rentals can be taxed as personal property.
Selling an apartment building in Wyoming
Skyline buys apartment buildings with five or more units in Wyoming, from Cheyenne and Casper to Laramie, Gillette and Sheridan. We buy directly, close on your timeline, and can work inside 1031 deadlines. We underwrite from your actual tax bills and assessment notices.
For the tax on the sale itself, see Wyoming capital gains tax on real estate. For deposits, notices and evictions a buyer inherits, see Wyoming landlord-tenant law for apartment owners.
