Real property is all land, buildings and any type of attachment that is not easily removed. Classifications of this type of property are diverse, but in Wyoming we have three: commercial, industrial and residential. Commercial class includes apartments with more than 4 units, warehouses, golf courses, banks, restaurants, hotels, etc. Industrial class includes manufacturing and processing plants and the residential class is all single-family homes, duplexes, triplexes and condominiums.
Annual Review of Properties
Every year our office selects a portion of the City to review property record cards with the current status of the properties. This may include updating exterior photographs and comparing Pictometry (aerial photography) with current sketches. You will receive a letter from us prior to our visits to your neighborhood. Included in the letter will be a short survey about your property, and we ask that you return it in the enclosed envelope, or answer the questions online. Appraisers making these inspections will be driving a City car with identification on the back window and will also have identification with them. Appraisers will not ask to inspect the interior of homes.
Review of Sales
Annually, our appraisers review all sales in a study period that spans from April 1st of the first year through March 31st of the third year. Sales selected for the annual sales study are arms-length transactions. We have many economic areas or neighborhoods which allow the appraisers to focus on smaller segments of the 25,000+ properties in the city of Wyoming. These smaller areas generally reflect uniform property type groupings and have been created around certain historical years of development, physical geography, school districts, neighborhood amenities and other such similarities. These economic areas allow the appraisers to review the assessment level by comparing to similar properties. Occasionally, the number of good sales available for any one economic area is insufficient for analysis. When this occurs the appraiser may blend in the sales from a nearby economic area of similar type properties, thereby creating a statistically significant sample for a study.