County Assessor - General Information
Residential Properties - The Basics
-- THE WHY's --
Wyoming Constitution Article 15, Section 11. "(a) All property,
except as in this constitution otherwise provided, shall be uniformly
valued at its full value as defined by the legislature, in three
(3) classes as follows:" (continued)
Wyoming Statute 39-13-103. "(b)(i) Except as otherwise provided:
(A) All taxable property shall be annually listed, valued and assessed
for taxation in the county in which located and in the name of the
owner of the property on January 1;" (continued)
Wyoming Statute39-13-103. "(b)(ii) Property valued at fair market value.
All property shall be annually valued at its fair market
value. Except as otherwise provided by law for specific property,
the department (Department of Revenue) shall prescribe by rule and
regulation the appraisal methods and systems for determining market
value using generally accepted appraisal standards."
Wyoming Statute 34-1-142 thru 144 require the filing of a Statement of Consideration
SOC) as part of each property transfer. These forms contain sales information.
The statute also states that an individual SOC cannot be used to adjust the assessment
on a property.
-- THE HOW's --
A Computer Assisted Mass Appraisal (CAMA) system is the basis used in Laramie County.
This is a cost system consisting of a Boeckh Appraisal Program supported by state enhancements. Property characteristics
are collected by field appraisers and entered into the system. This
data generates a Replacement Cost New (RCN). With the entry of the
year of construction, effective age, and condition a Replacement
Cost New Less Depreciation (RCNLD) is developed on each property
in the county. Property Record Cards are maintained on each property
listing specific information and including a basic sketch of the
house and attachments. Information on other miscellaneous improvements
such as sheds or outbuildings and pictures of the property are included.
The various CAMA systems used in Wyoming have been validated by a
WY Supreme Court Decision No. 94-19, Gray vs WY SBOE, 6/9/95. A copy
of this decision is available for review in the Assessor's Office.
Laramie County has been divided into appraisal neighborhoods of similar properties
by the Assessor's Office to aid in developing fair and equitable market values. Maps delineating these are available
in the office for review and a more detailed explanation.
In the process of developing a market value for each property as of January 1
for a given year, sales information for an area is
analyzed to develop adjustments that must be applied to the RCNLD
to bring the property to current market value. One of the first and
more important areas of consideration are properties within a geographic
neighborhood and their relative sales ratios. This is because the
neighborhoods have been developed on Location, Economic Forces, Governmental
and Social Factors and Boundaries that group properties with similarities.
Within neighborhoods other considerations may be age, type of construction,
etc. Through the use of computer programs, information gained from
properties that have sold can be used on properties not sold to achieve
a fair market value for all properties.
-- YOUR TURN --
During the month of March of each year Assessment Schedules are mailed to each property
owner listing the estimated Market Value and Assessment. In addition beginning with the 1996 schedule, the
previous year's tax and estimated tax for the current year will be
listed using the previous year's Mill Levy. The previous year's information
will not be listed on properties that have had changes in legal description
or if they did not exist in the previous year (i.e., newly platted).
Property owners have the right to appeal the values placed on their
property; however, the appeal MUST be filed within 30 days of the
assessment mail date. Property Record Cards are available for the
owner's review to ensure the accuracy of the information used to
generate the property's market value. These are available at any
time for review. Our goal is to make the estimates of value based
on the best information available. Statutes developed and passed
during the 1996 legislative session allow for persons appealing their
assessments to review the SOCs used in determining the value of their
property. This SOC review period is only during the 30 day appeal
period and the property owner may not further disclose the sales
information to other persons or property owners. The sales information
may be introduced and revealed to the County Board of Equalization
during a formal appeal, but actions must be taken to prevent its
indiscriminate disclosure.
Formula For Tax Dollars
Fair Market Value x Level of Assessment = Assessed Value v Assessed Value x Mill Levy = Tax Dollars |
