Another tax benefit to living in Wyoming

We here in Wyoming are blessed with no state income tax, which is a great benefit, especially as we get closer to tax time.  Teton county usually makes the list for being an expensive place to live.  This research by RealtyTrac shows that we have some of the lowest effective tax rates.

Now, the effective tax rate is low most likely because the average home price is the bottom half of this fraction, and we have some pretty expensive property here.  When you compare our average property tax dollars to some of the most expensive counties in the country, we’re about half the amount of the lowest county in the Top 5.   Considering Teton County has the second highest per capita personal income, I’d say paying only 14% of the property tax of the county with the highest per capita personal income is a pretty good trade off.  Plus, we get to live in one of the best places in the world (personal opinion).

Counties with the highest average 2014 property taxes in dollars for single family homes were Westchester County, New York ($56,124), New York County, New York ($38,574), Nassau County, New York ($11,587), Marin County, California ($11,422), and Bergen County, New Jersey ($11,159).

 

RealtyTrac Article

prop tax teton

 

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