Real Property is all land, buildings and any type of attachment that is not easily removed. Classifications of this type of property are diverse, but in Wyoming we have three:
Commercial property is property used for commercial purposes, such as wholesale, retail or service. Other examples are golf courses and apartments of more than four units.
Industrial property is property used for industrial purposes, such as manufacturing, processing of products, or warehousing.
Residential property is property used for residential purposes, such as single-family homes, duplexes, condominiums, and apartments of 4 units or less.
Personal Property is generally considered to be all property that is not real property and is easily moved. Some examples include furniture, fixtures and leasehold improvements. Leasehold improvements are owned and used by a business or industry and located within the City on December 31st.
Personal Property leased by a business is also a reportable and assessable item. If it is in the City on the 31st of December, regardless of whether it is in use or setting "idle", it is assessable and must be reported.
Reporting Statements are mailed to all known businesses in December for completion and must be returned to the Assessor's Office by February 20th. Audits are performed annually to ensure accuracy in reporting.
Property record cards are created, maintained and available for all real property with assessed values, sales and ownership history, legal descriptions, building permit information, building drawings, pictures, maps and other itemized property characteristics. These are available for review on your own property or others during our normal business hours.
Personal Property Records are also available, but only to the owners and agents of that business. This confidentiality and privacy is required under State Law.
A large number of sales of property occur each year. All transfers of property are reviewed and ownership records are updated. Conveyances using Warranty Deeds, Land Contracts, Quit Claims, etc., as well as the Property Transfer Affidavits indicate ownership change and are recorded on the electronic parcel cards and assessment roll.
All properties sold in a year must be reviewed and will have their Taxable Values "uncapped". This requires us to reappraise these properties and adjust the Assessed and Taxable Values at this time of sale for the next Assessment. This sets a new Taxable Value base, which is then multiplied by either the Consumer Price Index or 5 %, whichever is less, for subsequent year calculations of Taxable Values. This is a direct result of "Proposal A" and holds increases in taxes down to a "capped value" times the CPI or 5 %, whichever is less. Of course, new construction, fire damage, other changes in physical circumstances, etc. and/or millage changes will also modify taxes. Since 1994, all transfers of ownership require a Property Transfer Affidavit form be filed with our office. The transaction purchase price must be disclosed on the Property Transfer Affidavit. Failure to file this form can result in a financial penalty.