Rental Property Taxes in Wyoming (2026 Guide)

1. No State Income Tax

Wyoming has no individual or corporate state income tax — and the state constitution makes a personal income tax effectively impossible to enact. Your rental income and any gain when you sell carry zero Wyoming income tax; you only deal with the IRS. The state funds itself largely through mineral severance, sales, and property taxes instead.

2. Property Tax & the 9.5% Assessment Ratio

Wyoming property tax is low. Residential property is assessed at 9.5% of fair market value (the "level of assessment" set under W.S. 39-13-103), and the local mill levy is applied to that assessed value — so only a fraction of your market value is ever taxed. Effective rates statewide are typically under 1% of market value, among the lowest in the nation.

Recent relief laws also cap how fast bills can rise: HB0045 (2024) limits the year-over-year increase in residential property tax to 4%, and a separate long-term exemption (HB0003, 2024) gives a 50% exemption to owners 65+ who have paid Wyoming property tax for 25+ years on their primary residence.

The big 2025 development was SF0069, a 25% exemption on the first $1,000,000 of a single-family residence's fair market value. The catch for investors is in the eligibility, which changed between years:

• Tax year 2025 — applied to all single-family residential property, including rentals. Many landlords got the break automatically that one year.
• Tax year 2026 — narrowed to owner-occupied primary residences only (you must reside there at least eight months of the year), so rentals no longer qualify.
• Tax year 2027 — the SF0069 exemption is scheduled to be repealed entirely.

3. Sales Tax & Long-Term Rent

Wyoming charges a 4% state sales tax plus optional local taxes (W.S. 39-15-101 et seq.), but it does not reach long-term housing. The rental of real property — including long-term residential leases — is not a taxable transaction, so you do not collect sales tax on a residential lease.

• Long-term residential rent — not subject to sales tax or lodging tax.
• Short-term lodging — renting nightly/short-term (a vacation rental) is a taxable lodging service and triggers state sales tax plus the local lodging tax; if you run a short-term rental, register with the WY Department of Revenue.

4. No Real Estate Transfer Tax

Wyoming is one of the few states with no real-estate transfer tax or deed tax. Buying or selling rental property here costs you nothing in state conveyance tax — a recurring saving versus states that take a fraction of every sale price at closing. Repeated legislative attempts to create one have failed.

5. The Wyoming LLC ($60/Year)

Wyoming is the original LLC state — strong privacy, strong charging-order asset protection, and very low fees make it a favorite holding structure for rental property. The carrying cost is genuinely cheap:

• $100 one-time to file Articles of Organization with the Secretary of State.
• Annual Report License Tax — the greater of $60 or $0.0002 (two-tenths of one mill) per dollar of the LLC's assets located in Wyoming (W.S. 17-29-209). Most out-of-state owners holding property in another state owe only the $60 minimum.
• Registered agent — required; typically $50–$150/year if you use a service.

6. Security Deposits & the Rental Property Act

The Wyoming Residential Rental Property Act (W.S. 1-21-1201 to 1211) sets the deposit and habitability rules. There is no statewide rent control and no deposit cap, but the return timeline is specific:

• Return within 30 days of lease termination, or 15 days after you receive the tenant's forwarding address — whichever is later (W.S. 1-21-1208).
• +30 extra days are allowed if the unit was damaged beyond normal wear and tear.
• Written itemization of any deductions must be mailed with the returned deposit; deductions may cover unpaid rent, tenant damage beyond normal wear, and cleaning.
• Nonrefundable deposits must be disclosed in writing when collected, or they are treated as refundable (W.S. 1-21-1207).

7. How SheltrIQ Helps Wyoming Landlords

With no state income tax, the Wyoming game is all about maximizing federal deductions and staying on top of low-but-changing property tax — SheltrIQ covers both:

• Maximized federal deductions — AI Schedule E classification and full depreciation schedules so every write-off lands on your federal return, the only return your WY rental needs.
• Depreciation and cost-seg support — builds 27.5-year MACRS and tracks improvements and personal property.
• Deadline reminders — keeps your LLC annual report (anniversary-month due date) and the security-deposit return clock on your radar.
• Disposition modeling — projects federal tax on a sale with no Wyoming income-tax or transfer-tax layer to muddy the numbers.