In This Article
Property Taxes: Lower Than You'd Expect
Everybody talks about Wyoming having no state income tax. Fewer people talk about what property taxes and utilities actually look like once you're here. So let's open the books on a real property in Park County and go line by line.
Here's a real property tax statement from a modest 2-bedroom, 1-bath house in Cody — roughly a $200,000 home.
Original annual property tax: $1,064
That was the bill when we first pulled this statement. Since then, mill levies have increased — the current effective rate across Park County is about 0.66%, which puts a $200K home closer to $1,320/year today. Even with the increase, it's still remarkably low. Wyoming assesses residential property at 9.5% of fair market value, and the bill breaks down across a dozen line items:
- City of Cody: $71
- Cody Fire District: $42
- Hospital: $42
- County education: $85
- Local college: $57
- General county: $170
- Parks & rec: $14
- Cemetery: $28
- Plus additional smaller line items (school districts, weed & pest, etc.)
Selected line items shown — full statement includes additional assessments that bring the total to the figures above.
You can pay in two installments — half by November 10, half by May 10.
For context: a comparable rowhouse in Baltimore was running $4,000+ in property taxes years ago. Wyoming is a different world on this front.
Utilities: The One Thing They Get You On
Property taxes are low. Utilities? That's where they claw some back.
For the same 2-bed/1-bath rental with two tenants, here's a real monthly utility bill:
- Electric (392 units): $33.71
- Base electric fee: $40.50 (this one stings — it's a flat fee on top of usage)
- Wastewater: $17.50
- Solid waste (trash pickup): included
- County landfill fee: $8.62
- Recycling: $1.30
Monthly total: $125-150 for electric, water, and waste. Add $30-60/month for natural gas (Black Hills Energy, separate bill) for heating and a gas stove/fireplace.
Winter months will push higher — furnace running, more electricity, gas bill climbing. Budget about $200/month all-in to be safe.
The Monopoly Factor
Inside Cody city limits, you use City of Cody utilities. No shopping around. No competitive options. You pay what they charge.
Those base fees — $40.50/month for electric before you flip a single switch — are effectively a second tax. Multiply that by 12 and you're adding about $486/year to your cost of living that has nothing to do with how much power you actually use.
The Bottom Line
Add zero state income tax on top of roughly $3,700-3,800/year in total housing overhead on a $200K home (property tax + utilities + gas), and Wyoming's overall tax burden is still dramatically lower than most states. The low property taxes are the headline. The utility base fees are the footnote they hope you don't read.
This article is based on content from The Wyoming Project YouTube channel. Watch the full video here.
We don't disappear after you get the keys. When your first tax assessment shows up and the numbers look off, or you need a propane company that doesn't charge tourist rates — we're a text away.
Disclaimer: This article is for informational purposes only and does not constitute legal, financial, or professional advice. Reading this does not create a broker-client relationship. Some content was created with the assistance of AI tools and may contain errors — always verify current information with the appropriate local authorities, licensed professionals, and service providers before making any decisions. Regulations, costs, and market conditions change frequently. When in doubt, consult a qualified attorney, inspector, or other expert.