Language of Assessment: Terms A - C


Abatement - An official reduction or invalidation of an assessed valuation after the initial assessment for ad valorem taxation has been completed.

Account Number - The Account Number for a parcel is generated by RealWare. It is used by the Assessor's Office to identify parcels. These seven-digit numbers are prefaced with R for Real Property, P for Personal Property, M for Mobile Homes, and O for Oil and Gas Industries. Each parcel has three different numbers associated with it: Account Number, Tax ID / Parcel Number, and GEO Number / PIDN (PDF).

Acre - A land measure equal to 43,560 square feet.

Ad Valorem - Literally, according to value.

Ad Valorem Tax - A tax levied in proportion to the value of the thing(s) being taxed. Exclusive of exemptions, use-value assessment provision, and the like, property tax is an ad valorem tax.

Assess - To value property officially for the purpose of taxation.

Assessed Value - The taxable value of a property. This value is calculated by multiplying the fair market value by the assessment level or tax rate. View more information about assessed value.

Assessment Date - The status date for tax purposes. Appraised values reflect the status of the property and any partially completed construction as of this date. The date for Wyoming is January 1 of each tax year. All properties in Wyoming must be valued, assessed, and taxed to the owner of record on this date.

Assessment Level / Tax Rate - The percentage of fair market value that determines assessed value. The current level of assessment in Wyoming for industrial property is 11.5%, for any producing mineral it is 100%, and for all other property it is 9.5%. The level of assessment is set by the Wyoming State Legislature and is subject to change.

Assessment Roll - A public record that shows how the property tax levy is allocated among the property owners in a jurisdiction with taxing powers; usually identifies each taxable parcel in the jurisdiction, the name of the owner of record, the address of the parcel or the owner, the assessed value of the land, the assessed value of the improvement(s), applicable exemption codes if any, and the total assessed value.

Assessment Schedule - Also called an NOV (Notice of Value). Sent to the taxpayer on or before the fourth Monday in April, the Assessment Schedule contains the property's estimated fair market value for the current and previous year, or productive value in the case of agricultural property, the assessment ratio, the amount of taxes assessed on the taxable property from the previous year, and an estimate of the taxes which will be due and payable for the current year based on the previous year's mill levies.

Board of Equalization - A non-judicial board that reviews assessments to see that all districts are assessed at a uniform level of value; authorized to raise or lower the assessments to achieve a uniform basis of taxation.

Certificate of Title - A document, usually given to a home buyer with the deed, which states that the title to the property is believed to be clear; usually prepared by an attorney or another qualified person who has examined the abstract of title for the property.

Comparables - A shortened term for similar property sales, rentals, or operating expenses used for comparison in the valuation process; also called "comps."

Cost Approach - The method of estimating the value of property by estimating the cost of construction based on replacement or reproduction cost, new or trended historical cost, subtracting depreciation, and adding the estimated land value.