Jackson Hole Property Taxes Explained

Everything you need to know about property taxes in Teton County

Jackson Hole Property Taxes, Explained | Parker Bertles Real Estate

If you’re reading this, you’re probably already aware that Wyoming is a very tax-friendly state. If you aren’t aware here are all the reasons why. Of course, the state-level tax benefits are a major draw for many investors, residents and second-home buyers in the market.

This guide is specifically focused on understanding how Jackson Hole property taxes are calculated, and what rates you can tend to expect today. Based on this, you should be able to back into an annual tax estimate for a house under consideration. See below for a simple run-down:

1. How Property Taxes Work in Jackson Hole

Property taxes here are administered at the county level through Teton County and follow Wyoming’s statewide property tax framework. Taxes are based on three main components:

• The market value of the property

  • This is not based directly on the purchase price. It is the county’s estimate of what a property would reasonably sell for in an open, competitive market, based on comparable sales and property characteristics.

• The assessed value (market value x assessment ratio), which depends on how the property is classified

  • This is the portion of the property’s value that is actually taxed. For most residential properties in Wyoming, including Jackson Hole, the assessment ratio is 9.5%.

• The local mill levy, which funds schools and public services

  • A mill represents $1 of tax for every $1,000 of assessed value. For 2025, the baseline Teton County property tax mill levy was approximately 56.8 mills, before any additional special district assessments.

So, here’s how you’d calculate estimated annual property taxes for a $3.5M market value home in Teton County:

• $3,500,000 × 0.095 = $332,500 assessed value

• $332,500 ÷ 1,000 = 332.5

• 332.5 × $56.8 = $18,886 estimated annual property tax

This estimate assumes a residential classification and the baseline Teton County mill levy and does not include any additional special district taxes or HOA-related assessments.

On the note of special district taxes… some areas, such as Teton Village, include additional resort district taxes to support infrastructure and services, which is why property taxes there are typically higher than in other parts of the valley. Understanding these local tax nuances allows buyers to weigh area options more strategically and avoid surprises later.

2. How Primary and Second Homes are Treated for Tax Purposes

Are you looking to buy a second home? More good news here for you: unlike many states that penalize second-home ownership, Wyoming’s property tax structure treats most second homes similarly to primary residences. As long as the property remains residential in use, second-home owners benefit from the same assessment framework, creating clarity and consistency in ownership costs.

Core takeaway here: While property values in Jackson Hole are high, the property tax rate itself is relatively low, which helps keep annual tax obligations manageable for long-term residents.

Reach out to me if you’d like a personalized tax estimate!