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Wednesday, November 4, 2009
Wyoming Taxes Major Industry, State and Biz Roll Along
Former patrolman turned Wyoming restaurant magnate Mark O'Loughlen sends me a PDF copy of a 2003 Wyoming property tax guide. I note with interest (and perhaps loyal reader and prospective Wyoming land baron Mr. Gibilisco can add some perspective) that historically, Wyoming has drawn half of its property tax revenue from assessed value of mineral production. Funny: I thought the conservative argument was that taxes kill big business... yet Wyoming's mineral production industry keeps rolling right along, as do Wyoming's teacher salaries ($5K more for starting pay, $8.5K more for average pay than in South Dakota).
Interesting stuff! Was over there near Powell looking at properties last week. Based on the selling price, the total property taxes in Park County are about 1/3 what they are in my home town of Lead, South Dakota (which is one of the highest-taxed places in this state).
ReplyDeleteHouse and land prices are higher in Wyoming, based on what you can actually get -- particularly in Park County. Another way of saying this is that in Wyoming, when it comes to buying real estate, the general rule is that one should expect to pay more for less than in South Dakota.
Thanks for the data, Cory. I'd like to read the thoughts or experiences of Wyoming land barons who might be reading this blog, real or (like me) self-imagined.