Property Tax FAQ. What Is Property Tax? Calculating Property Tax. Homestead Exemptions.
Property Tax Deduction. History of the Property Tax. The Johnson County Tax Assessor is responsible for setting property tax rates and collecting owed property tax on real estate located in Johnson County. The Johnson County Property Appraiser is responsible for determining the taxable value of each piece of real estate, which the Tax Assessor will use to determine the owed property tax. The Assessor states four issues: Was the County Board decision arbitrary, capricious, an abuse of discretion or otherwise not in accordance with the law?
Was the County Board decision in excess of statutory jurisdiction, authority or limitation or lacking statutory right?
Did the County Board fail to observe procedure required by law? We affirm the decision of the County Board. When the State Board hears appeals from a county board of equalization, it acts as an intermediate level of appellate review. Laramie County Board of Equalization v. Wyoming State Board of Equalization , P.
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In its appellate capacity, the State Board treats the County Board as the finder of fact. Colorado Interstate Gas Co. State Bd. Chevron U. Under this standard, county board findings of ultimate fact are reviewed de novo. Power Co-op. Britt v.
Taxpayers owned residential property at Hamilton Street, Buffalo, Johnson County, Wyoming, as of the assessment date, January 1, The property consists of the east one-half of four lots, with a 1, square foot, single story ranch-style modular home, and a square foot detached garage. The revised assessment reflects it was mailed to Taxpayers on October 1, Ryan testified on behalf of himself and LeeAnn R. He characterized the selected properties as the best comparables he could find. It sold for more than the other six selected properties.
No analysis comparing property characteristics was presented by Taxpayers. Taxpayers accepted a contract for deed from the buyers. The report compared sales from to sales from January through October 16, He expressed his opinion that values were going down in contrast to his assessment which continued to increase. The appraisal was not presented at the County Board hearing, nor did the appraiser testify.
Mary Klaahson, Deputy Assessor, testified on behalf of the Assessor. In selecting comparable properties within a neighborhood, the Assessor took into consideration the quality, condition, year built, and square footage of properties which sold during the prior year. She testified the sales disclosure statements she reviewed did not show all sales prices were going down, contrary to the MLS information submitted by Taxpayers. The legislature shall prescribe such regulations as shall secure a just valuation for taxation of all property, real and personal.
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Broken into its component parts, the constitutional standard requires: 1 a rational method; 2 equally applied to all property; and 3 essential fairness. It is the burden of one challenging an assessment to prove by a preponderance of the evidence that at least one of these elements has not been fulfilled.
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Basin Electric Power Coop. The Legislature has required all property in Wyoming to be valued annually at fair market value. The statutory valuation date is January 1 of each year; all taxable property must be valued and assessed for taxation in the name of the owner of the property on that date.
Fair market value is defined as:. Each county assessor annually determines the fair market value of residential real property within their county. The Department has a corresponding statutory obligation to confer with, advise and give necessary instructions and directions to the county assessors as to their duties, and to promulgate rules and regulations necessary for the enforcement of all tax measures. The Department has promulgated rules which establish appraisal techniques which may be used by an assessor.
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Administrative rules have the force and effect of law. Abels, P. The Department also prescribes how the various valuation methods are to be evaluated and utilized by an assessor:. Section 6. Appraisal Methods. The appraisal techniques which may be used by the County Assessor or the Ad Valorem Tax Division under written agreement with a county include the approaches described in this section.
Each approach used shall be an appropriate method for the type of property being valued; that is, the property shall fit the assumptions inherent in the appraisal method in order to calculate or estimate the fair value of the property. Each approach used shall also consider the nature of the property or industry, and the regulatory and economic environment within which the property operates.
The Sales Comparison Approach. The comparable sales approach is an appropriate method of valuation when there is an adequate number of reliable arms-length sales and the properties subject to such sales are similar to the property being valued. Comparable sales shall be adjusted to reflect differences in time, location, size, physical attributes, financing terms or other differences which affect value.
The use of this approach to value depends upon:. The availability of comparable sales data;.
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The verification of the sales data;. The degree of comparability or extent of adjustment necessary for time differences; and. The absence of non-typical conditions affecting the sales price. The Cost Approach. The cost approach is a method of estimating value by summing the land value, where applicable, with the depreciated value of improvements. The approach may also be used to establish value for personal property through the process of cost estimation. The cost approach relies on the principle of substitution in which an informed buyer will not pay more for a property than its comparable replacement.
The approach requires:.
Accurate, current land values in the case of real property;. Accurate, pertinent physical data regarding the property to which cost data may be applied;. Current cost data which considers appreciation in the case of real and personal property;. Visit our Facebook fan page! Powered by us. View real searches in realtime run by real users! Click the Search Spy logo! We make no guarantees, expressed or implied, as to the accuracy of this data or service. Errors, including false "no hits," may exist in results returned.