Wyoming Mortgage Calculator
Wyoming taxes homes on just 9.5% of their market value, the lowest assessment ratio of any state I’ve built a calculator for, and in 2025 the legislature added a brand-new 25% exemption on top of that for owner-occupants. Combined with no state income tax and no real estate transfer tax at all, Wyoming may be the least expensive state in the country to buy and own a home in. This Wyoming mortgage calculator with taxes and insurance builds the new exemption directly into your monthly number.
Skip straight to the calculator ↓Your Loan Details
Statewide Average Spotlight
No state income tax, no transfer taxThis reflects Wyoming’s statewide average effective property tax rate, already among the lowest in the country before any exemptions are applied. Your actual rate depends on which of the state’s 23 counties you buy in.
Your Estimated Monthly Payment
Payment breakdown
Balance vs. interest paid over time
Enter your details above to see a plain-language read on your payment.
What If You Paid Extra Toward Principal?
Slide to test an extra monthly payment and see how many years and how much interest it saves.
What If Your Rate Changes?
| Rate scenario | Interest rate | Monthly P&I | Difference |
|---|
Your 5-Year Equity Projection
| Year | Remaining balance | Principal paid | Interest paid | Equity |
|---|
Wyoming Just Got Even Cheaper to Own a Home In
I keep an eye on legislative changes across every state I build a calculator for, and Wyoming’s 2025 session produced one of the biggest homeowner wins I’ve tracked all year. Governor Mark Gordon signed Senate File 69 on March 4, 2025, creating a 25% property tax exemption on the first $1 million of a single-family home’s fair market value. It stacked on top of a system that was already unusually generous: residential property here is assessed at just 9.5% of market value, by far the lowest ratio of any state in this calculator series. Starting with the 2026 tax year, the exemption is limited to owner-occupied homes, with an allowance for active-duty military members who can’t meet the residency requirement.
The 9.5% Assessment Ratio: How It Actually Works
Before any exemption is applied, Wyoming taxes your home on 9.5% of its appraised value, not the full price. A $320,000 home starts at an assessed value of just $30,400. Compare that to states that assess at 60% or 100% of value, and it’s easy to see why Wyoming’s effective rates run so low even with mill levies of 60 to 120 mills. The spotlight panel above shows your actual assessed value after any exemption you’ve selected is applied.
25% Homeowner Exemption vs. 50% Long-Term Resident Exemption
Wyoming gives homeowners a choice, not a stack. The new 25% Homeowner Exemption is open to anyone who owns and occupies a single-family home as their primary residence, capped at the first $1 million of fair market value, with no minimum years of residency required. The older 50% Long-Term Resident Exemption is more generous on paper, but it’s restricted to homeowners 65 and older who have paid Wyoming property tax for at least 25 years and live in the home at least eight months a year. You can use one or the other, never both, and the toggle above lets you compare what each is actually worth on your numbers.
A Veteran Exemption That Just Doubled
Effective 2025, Wyoming doubled its veteran property tax exemption from $3,000 to $6,000 of assessed value, available to veterans with at least three years of Wyoming residency. It can be applied to real estate or a vehicle, and a surviving spouse may continue receiving the benefit until they remarry. Because it’s stated in assessed-value terms rather than market-value terms, it’s worth noticeably more in dollar terms once you account for the state’s already-low 9.5% assessment ratio.
Wyoming Property Tax by County
| County | Effective rate | Notes |
|---|---|---|
| Teton (Jackson) | 0.44% | Lowest rate, but highest dollar bills due to home values |
| Sublette | 0.44% | Ties Teton County for the lowest rate |
| Lincoln | 0.45% | Western Wyoming, well below statewide average |
| Sheridan | 0.55% | Below statewide average |
| Laramie (Cheyenne) | 0.57% | State capital, right at statewide average |
| Natrona (Casper) | 0.60% | Above statewide average |
| Fremont | 0.62% | Highest among Wyoming’s larger counties |
| Washakie / Weston | 0.68% | Highest effective rates in the state |
No Income Tax, No Transfer Tax
Wyoming has no state income tax, funded instead largely by mineral severance taxes on coal, oil, natural gas, and trona. It also has no state or local real estate transfer tax at all, one of only a handful of states without one. Between the low assessment ratio, the new homeowner exemption, no income tax, and no transfer tax, it’s a genuinely difficult combination to beat for overall cost of homeownership.
Frequently Asked Questions
What is Wyoming’s new 25% homeowner exemption?
Senate File 69, signed into law March 4, 2025, exempts 25% of the fair market value of a single-family home and its improved land from property tax, capped at the first $1 million of value. Starting in tax year 2026, it applies only to owner-occupied homes.
Can I use both the 25% exemption and the 50% long-term resident exemption?
No. Wyoming allows a household to use one or the other, not both. The 50% exemption requires age 65 or older and at least 25 years of Wyoming property tax paid, with residency in the home at least eight months a year.
How does Wyoming’s 9.5% assessment ratio work?
Residential property is taxed on 9.5% of its appraised market value rather than the full price, one of the lowest assessment ratios of any state, before any exemption is applied on top.
Does Wyoming have a property tax exemption for veterans?
Yes, $6,000 of assessed value, doubled from $3,000 effective 2025, for veterans with at least three years of Wyoming residency. A qualifying surviving spouse can continue the benefit until remarriage.
Does Wyoming have a state income tax?
No. Wyoming has no state income tax, relying instead heavily on mineral severance tax revenue from coal, oil, natural gas, and trona.
Does Wyoming charge a real estate transfer tax?
No. Wyoming is one of the few states with no state or local real estate transfer tax on property sales.
Why do Wyoming property tax rates vary so much by county?
Each of Wyoming’s 23 counties sets its own mill levy to fund schools, county government, and local services, producing effective rates from about 0.44% to 0.68%.
Should I choose a 15-year or 30-year mortgage in Wyoming?
A 15-year term carries a lower rate and less total interest but a higher payment. A 30-year term keeps payments lower and more flexible, which is why most buyers choose it.
References
- Wyoming Legislature, Senate File 69 (2025 Homeowner Property Tax Exemption) – wyoleg.gov
- Consumer Financial Protection Bureau, Owning a Home resources – consumerfinance.gov/owning-a-home
- U.S. Department of Housing and Urban Development, homebuying guidance – hud.gov/topics/buying_a_home
Related State Mortgage Calculators
Comparing Wyoming against neighboring or similarly-structured markets? These calculators use the same real tax-data approach:
Related DexoCalc Tools
This Wyoming mortgage calculator sits inside a wider set of financial planning tools on DexoCalc.
This calculator provides estimates for educational purposes only and is not a loan offer, pre-approval, or substitute for advice from a licensed mortgage professional. County tax rates, the 9.5% assessment ratio, and the 2025 exemption programs reflect published rates and law at time of writing and can change; confirm exact current figures with your county assessor, the Wyoming Department of Revenue, and your insurance provider.