Lovell, Big Horn County, Wyoming Property Taxes
Median Lovell, WY effective property tax rate: 0.60%, significantly lower than the national median of 1.02%, but lower than the Wyoming state median of 0.65%.
Median Lovell, WY home value: $173,262
Median annual Lovell, WY tax bill: $1,014, $1,386 lower than the national median property tax bill of $2,400.
How are property taxes in Big Horn County calculated?
Property taxes in Lovell, WY are calculated based on the tax assessed value, which is often lower than the actual market value due to property tax exemptions such as the homestead or senior exemption.
Understanding Lovell’s property tax system, exemptions, and reduction opportunities can lead to significant savings. Regardless of where you live in Lovell, knowing local tax details benefits homeowners and investors.
Last Updated March 1, 2025
Lovell, Big Horn County, Wyoming Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Median Effective Tax Rate
0.6%
Estimate Property Tax Bill
$1,040
$965
Property Tax Rates Across Lovell, Big Horn County, Wyoming
Local government entities are responsible for setting tax rates, and these can differ significantly within a state. This is because each county annually estimates the budget required to provide services and divides it by the total value of all taxable properties within its jurisdiction, resulting in the property tax rate. While laws and votes play a role in determining tax rates and budgets, this is essentially the process followed each year.
In Lovell, located in Big Horn County, the effective property tax rate is 0.60%. This rate is notably lower than the national median property tax rate of 1.02%. For residents of Lovell, this means a more affordable property tax bill compared to other areas in the U.S. where the median property tax bill is $2,400.
Comparing Lovell's tax rate to other cities in Wyoming and the national average highlights the potential savings for property owners in this area. The lower property tax rate can contribute to a more attractive living and investment environment, offering financial relief and making it an appealing choice for property owners.
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Lovell Tax Rate
0.60%
Our median effective property tax rate (tax bill ÷ assessor's market value) accounts for exemptions and deductions, making it more accurate than the general median tax rate, which is the midpoint of statutory rates before adjustments.
Median Effective Big Horn County Tax Rate
0.60%
Median Effective Wyoming Tax Rate
0.65%
Median Effective United States Tax Rate
1.02%
Property Tax Rates Across Lovell, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82431 | 0.55% | 0.58% | 0.60% | 0.64% | 0.66% |
Source: Ownwell
Property Tax Assessment Values Across Lovell, Big Horn County, Wyoming
When examining property taxes in Lovell, Wyoming, understanding the distinction between "market value" and "assessed value" is crucial. The market value is what a willing buyer would pay to a willing seller in an open and competitive market, often influenced by location, property condition, and economic market trends. The Big Horn County Assessor estimates the market value for tax purposes. The assessed value is the market value minus any applicable exemptions or limits determined by local laws and offerings. The tax assessed value is the figure used to calculate your property taxes or the amount multiplied by your tax rate to get your tax bill.
In Big Horn County, assessment notices are sent in the spring each year. They’ll typically reach your mailbox by the middle of May. Each property owner receives an assessment notice that contains both the market value and assessed value, along with an estimate of your property tax bill. By providing insights into how assessed and market values are determined, this section helps property owners navigate their tax responsibilities and understand the valuation processes affecting their property taxes in Lovell.
For example, the median home price in Lovell is $173,262, with tax bills ranging significantly across the county. Zip code 82431 has the highest median home price at $173,262.
Property Tax Assessment Values Across Lovell, Big Horn County, Wyoming
Source: Ownwell
$83,554
$231,194
$378,834
Median Lovell Market Value
$173,262
Median Big Horn County Market Value
$158,659
Median Wyoming Market Value
$247,958
Median United States Market Value
$235,294
Property Tax Assessment Values Across Lovell, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82431 | $47,149 | $97,936 | $173,262 | $264,078 | $367,181 |
Source: Ownwell
Property Tax Bills Across Lovell, Big Horn County, Wyoming
Median Lovell Tax Bill
$1,014
Median Big Horn County Tax Bill
$957
Median Wyoming Tax Bill
$1,635
Median United States Tax Bill
$2,400
Property Tax Bills Across Lovell, Big Horn County, Wyoming
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 82431 | $288 | $598 | $1,014 | $1,544 | $2,121 |
Source: Ownwell