In addition, Wyoming does not assess any tax on retirement income earned and received from another state. Wyoming has a state sales tax of 4 percent. This fraction is the property's assessed value. For most property, only 9.5 percent of market value is subject to tax. The local assessor estimates the fair market value of property for tax purposes.
Statutes limit property tax rate increases.
With very few exceptions, state law limits the property tax rate for all governmental purposes. A June 2000 survey by the Wyoming Taxpayers Association found that the state's residential property tax rate of 0.753 percent of market value compares to an average of 1.4 percent for surrounding states and 1.2 percent to 1.5 percent average tax rate for all states, depending on the price of the home. Nominal property tax rates, or mill levies, vary widely among the over 400 separate government bodies in Wyoming that levy property tax. Personal property held for personal use is tax exempt. Inventory if held for resale, pollution control equipment, cash, accounts receivable, stocks and bonds are also exempt.