Pinedale, Wyoming Real Estate
November 11, 2004
The price of real estate in Sublette County is going up. And Up and UP. According to the Sublette County Assessor, there was a significant increase in the average selling price of homes and land in 2003. The average price for a 9,000 to 12,000 square foot lot in Pinedale was $49,400. County-wide, the average sales price for a home in 2003 was $182,495, in the rural north county $221,735, in the south county $117,700 and in Pinedale $157,620.
Land prices have also been rising. However, the rate of increase has not been uniform across the county, apparently due to supply and demand. There have a number of new subdivisions opening up around Pinedale in 2004 offering lots sizes ranging in town for under an acre, 2-10 acre parcels, and larger 35+ acre lots. New construction also continues at a high rate according to the County Assessor.
Total # of Residential Sales in 2003
2002: 159, Average Sales Price: $51,084
2003: 190, Average Sales Price #58,408
Land Sales <35 acres in 2003 (not including Barger or Green River Ranches):
2002: 103, Average Selling Price: $55,073
2003: 130, Average Selling Price: $80,435
Land Sales 35+ acres in 2003:
2002: 17, Average Sales Price: $132,085
2003: 18, Average Sales Price: $147,476
Total Commercial Sales in 2003:
2002: 18, Average Sales Price: $56,997
2003: 13, Average Sales Price: $73,000
All property in Wyoming is valued at fair market value for property tax purposes, except for agricultural land, which is valued at productive capability. The assessment rate for agricultural, commercial and residential property is 9-1/2%. Industrial property is assessed at 11-1/2%. Minerals are assessed at 100%.
Because of the boom in natural gas revenues, the county is getting a great deal of property tax into local coffers. For the 2003 tax year, the oil & gas industry paid 91.6% of the property tax in Sublette County. Residential properties brought in 5% tax revenue. Commercial and Agricultural each brought in less than 2% of the county’s revenue. 75% of the property tax revenue collected goes to local schools and portions are also distributed to less fortunate school districts. 20% of the tax revenue went to county government in 2003 and 3.4% went to the rural health care district. The remainder of the tax dollars collected went to the towns and special districts. The county 12 mill levy is used for fire protection, roads, landfill, libraries, museums, airports, fairgrounds, recreation, public health, county offices, law enforcement and courts. It is also being used to pay for the current county building projects, which include the courthouse renovation and law enforcement addition in Pinedale, building the new senior citizen center in Pinedale-Rendezvous Pointe, the Big Piney library addition and recreational facilities.
The top ten Sublette County taxpayers in 2003 were:
1. McMurry Oil, $237,456,347
2. BP America, $159,126,717
3. Exxon Mobil, $146,711,382
4. EOG, $111,285,046
5. Anschutz Exploration, $97,249,605
6. Ultra, $49,919,749
7. Williams Production, $44,775,984
8. Chevron Texaco, $33,168,546
9. Shell Rocky Mountain, $18,539,787
10. Wexpro, $17,297,450
All of the area real estate agencies have their own websites, which they update frequently with their current listings of available properties. For links to Pinedale area real estate agencies and their current property listings online, please go to our Real Estate page in our Pinedale Online business directory (see link below).