Question

All property tax on Wyoming is based on the assessed value of the property being taxed. For county revenue l, the tax rate cannot exceed 0.8% of the assessed value. Suppose that the assessed value of a hotel is a 104,000 and the tax rate is 0.8%. What is the property tax?

Answer 1

The property tax can be calculated by multiplying the assessed value by the tax rate:

Property tax = assessed value x tax rate
Property tax = $104,000 x 0.008
Property tax = $832

Therefore, the property tax on the hotel is $832.