A property tax in Wyoming is an ad valorem tax. Therefore, the more your property is worth, the higher your taxes are.
In order to tax the property, a taxable value must be determined.
First, the County Assessor assigns the property a Fair Market Value. The fair market value is multiplied by a Taxation Rate to calculate the taxable value. The taxation rate depends on how the Assessor classifies the property.
Properties are classified in one of three areas;
Gross production of minerals and mine products (taxed at 100%);
Property used for industrial purposes (taxed at 11.5%); and
All other property, Real and Personal (taxed at 9.5%).