Within the next few days, county residents will be receiving their 2023 Notice of Value. Please review the information on the Notice of Value. If you are in disagreement with the value of your property, you have 30 days from the “Date Mailed…March 29th” to discuss the value with the Assessor and provide information to assist our office in valuing your property.
Homes are valued by calculating the replacement cost new, subtracting depreciation, trending for sales and adding in the land value. The Wyoming Department of Revenue provides the cost data to all 23 Assessors in the state and there was a significant increase in the cost tables again this year. Anybody who tried to do a home improvement project in the last year saw the prices of building materials were still very high. Sweetwater County had the LOWEST change in residential property values from tax year 2021 – tax year 2022. Our local increase was 6.75% compared to an average of 16.17% state-wide.
Tax year 2023 will be higher in Sweetwater County, and some properties may see increases this year of up to 20%.
Please keep in mind, Assessors are required by the Wyoming Department of Revenue and the State Board of Equalization to be in compliance with Mass Appraisal Standards. These standards require the value of residential and commercial properties to be within 95% of the sales price for these properties in calendar year 2022.
The Wyoming County Assessors Association was part of a group that lobbied very hard in the recent legislative session to get the Property Tax Refund Program expanded to include more taxpayers. That effort was successful. This means more taxpayers may qualify for a refund of their paid property taxes from the Department of Revenue. Our office will have applications for the Refund Program available and can direct taxpayers to the DOR website for the on-line application.
If you have been receiving the Veteran’s Exemption and there is not an amount in the lower right-hand corner of the Notice of Value, please contact our office before May 22nd, 2023 to receive the exemption for the 2023 tax year. The taxes you see on the Notice of Value do not reflect the reduction from the Veteran’s Exemption.
After looking over your assessment schedule, if you have any questions or concerns about the valuation of your property, please call the Assessor’s Office. We enjoy taking the time to explain the valuation process to residents of our county.
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