Jackson Hole Community Price Ranges & List of Tax Benefits

Wyoming’s wealth-friendly status as well as Jackson Hole’s lifestyle benefits have created incredible demand and diversity in housing options in Jackson. Recognized as a “World Heritage Site” by the U.N. and the Department of Interior; Jackson Hole represents some of the most renowned natural beauty and ecological significance on the planet. The economic benefits of our state are certainly rivaled only by the health and lifestyle benefits enjoyed by our residents.

OVER 97% OF TETON COUNTY’S 2.7 MILLION ACRES WHICH INCLUDE JACKSON HOLE IS PERMANENTLY PRESERVED in National Parks, National Forests, and other varieties of public land. This means that just 3% of the Jackson Hole valley is privately held and of that, over two-thirds is already developed or preserved through conservation easements. Jackson Hole’s commitment to retaining the character, lifestyle and natural resources of this area has resulted in the creation of a highly desirable community that continues to attract full and part time residents from around the world.

North OF THE TOWN OF JACKSON The Jackson Hole Golf & Tennis Club blends the rugged West with the country club lifestyle and boasts a Robert Trent-Jones II -designed golf course. As you continue north towards the airport, the area features subdivisions, such as Solitude and Upper and Lower Cascade which offers full views of the Teton Mountains. Many of these subdivisions are tucked off main roads and have Snake River access.

Price range is $500,000 – $20,000,000

Town OF JACKSON The Town of Jackson was named in 1894 after Davey Jackson, who spent a winter in the late 1800s on Jackson Lake. Today, residents enjoy a vibrant cultural scene, anchored by the $35 million Jackson Hole Center for the Arts. In addition to the cultural benefits and convenience, St. Johns Hospital is located to the east of the Town of Jackson and features top-of the line medical services and

Price range is $350,000 – $3,000,000

South OF THE TOWN OF JACKSON The area known as South Park is the open expanse of land that spreads south from Jackson Hole High School and High School Road. South Park offers property that can feel separated from town, but is actually quite convenient to the bike path and services of town. It features relatively affordable neighborhoods such as Rafter J and Melody Ranch; as well as more high-end, 3-Creek Ranch, the valley’s first completely private golf course, not to mention some of the last privately held ranch lands in Jackson Hole.

Price range is $500,000 – $12,000,000

Wyoming is one of the most tax-friendly states. There are plenty of reasons to be thankful for owning a home in Jackson Hole, Wyoming: the mountains, the rivers, two national parks and three ski resorts, art galleries and restaurants, a charming Western-style downtown, and a close knit, philanthropic-minded and fun loving community. As enviable as our lifestyle is here, reality does intrude occasionally, as it will in mid-April when we pay our taxes. But even in that area, we as Wyoming residents are better off than most. After all, Wyoming has been cited by Bloomberg Wealth Management magazine as the most tax friendly state in the country. We can stretch our hard-earned dollars farther, whether to buy real estate, leave property to our heirs or buy a new mountain bike.

Below is a list of top 10 tax benefits offered by Clay Geittmann, Senior Vice President and Manager of Trust Services at Bank of Jackson Hole, on why it’s good to own a home in Wyoming.

NO STATE INCOME TAX

With no state tax on personal or corporate income, “you have more disposable income,” Geittmann says.

DYNASTY TRUSTS

In Wyoming, you can shield your real estate from federal estate taxes for up to 1,000 years through a dynasty trust. “You can establish a trust in Wyoming for the benefit of your family or other beneficiaries,” Geittmann says. “You can transfer your real estate into a limited liability company or family partnership and then put that into the dynasty trust, which can continue for a thousand years.” As a result, multiple generations can make use of and enjoy the property, without having to pay estate taxes or worse, having to sell the property in order to pay the taxes. A key point to remember: The trust must be administered in Wyoming.

NO INHERITANCE TAX

Wyoming does not assess any state inheritance tax.

NO STATE GIFT TAX

“Somebody who owns property in Wyoming can ‘gift’ that real estate to their heirs without having to worry about paying a state gift tax,” Geittmann says.

NO TAX ON OUT-OF-STATE RETIREMENT INCOME

“A lot of people in Jackson Hole use Wyoming as a second home,” Geittmann says. “They have retirement income that comes from other states where they may be a resident. Wyoming does not tax that retirement income that’s earned outside of Wyoming, and if the participant is a resident of Wyoming when they take that income then the original state cannot tax that income either, which is certainly beneficial.”

LOW PROPERTY TAXES

“Wyoming has very low property taxes compared to other states,” Geittmann says. “The taxes that you do pay here are based on the assessed value of the property.”

NO EXCISE TAXES

When you fill up your car with gas or buy a bag of groceries in Wyoming, you will not pay any state tax on your gas or food.

NO TAX ON MINERAL OWNERSHIP

“A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Geittmann says. “If you own minerals, you will not pay a tax on it like you would your home.”

NO INTANGIBLE TAXES

Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.

NO TAX ON THE SALE OF REAL ESTATE

Melody Ranch Home: $829,900 4Br/3Ba, 2581 SqFt

One of the few actively listed properties in the Melody Ranch subdivision, this South Valley four bedroom single-family house features outstanding views of Glory Bowl. The improvement has been very well maintained inside and out, has an open floor plan, great sunlight, and the master is on the first floor –much of which you can see yourself in this short video.

In addition to this short 40 second clip, you can also view an image gallery showing this home’s open kitchen, appliances, bedrooms and well-maintained landscaped lot below.


$749,000
4340 BALSAM Lane
Jackson, WY 83001
MLS# 11-1209
Status: Closed
4 beds  |  3 baths  |  2581 sqft


4340 BALSAM Lane, Jackson, WY 83001
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Property Description
This is a beautiful, well-kept home on the western edge of Melody Ranch. The finishes are high-end and the mountain views are lovely. Other attractions: security system, new deck, sprinklers, mature landscaping. Master suite is on the main floor.

Details
Documents
Listing Information
Current Price: $749,000
Status: Closed
Listing Price: 749000
Effective Date: 2011-05-25
Property Info
Realtor.com Type: Residential - Single Family
House Style: 2 Story
Year Built: 2004
Main House Total Bedrooms: 4
Main House Baths-Full: 2
Main House Baths-Half: 1
Main House Total Baths: 3
Main House 2nd Flr & Above SqFt: 972
Ownership: Single Family
Main House-Main Level SqFt: 1609
Main House Garage Type: Attached
Main House # Stalls: 2
Main House Garage SqFt: 680
Main House SqFt: 2581
Overall Total Bedrooms: 4
Overall Total Baths: 3
Overall Garage SqFt: 680
Overall Livable SqFt: 2581
Acres: 0.5
Lot Size: .50
Horses Allowed: No
Location Legal Taxes
Number: 4340
Street: BALSAM
Street Suffix: Lane
County: Teton
State: WY
Zip Code: 83001
Area: 09 - South of Jackson to Snake River Bridge
Subdivision: Melody Ranch
Compensation and Showing Info
Agent Owned: N
Status Change Information
Under Cont. Date: 2012-09-12
Sold Date: 2012-10-16
Seller Concessions: No
Fireplace
Natural Gas #: 1
Property Features
Water: Private (Community)
Sewer: Public
Basement: None
Construction: Stick Built On Site
Exterior: Cedar
Furnished: Unfurnished
Amenities: Cable; Cathedral Ceiling; Deck; Garage Door Opener; Hardwood Floors; Hi-Speed Internet; Landscaped; Security System; Sprinkler System
Property Features: Cable to Property; Electric to Property; Flat; On Paved Road; Phone to Lot Line; Trees; Year Round Access
Hardwood Floors: Hickory
Exterior Trim: Cedar; Stone
Roof: Comp Shingle
Air Conditioning: None
Fuel Type: Natural Gas
Heat: Forced Air Ducts
Appliances: Dishwasher; Dryer; Freezer; Microwave; Range/Oven/Cooktop; Refrigerator; Washer
Water Softener: None
Driveway: Asphalt
View: Canyon View; Glory Bowl; Gros Ventre Mtn View; Munger Mountain View; Teton View; Valley View
Special Rooms: Loft

Listing Office: Compass Real Estate

Listing Agent: Tom 'Bomber' Bryan

Last Updated: August - 27 - 2024

DISCLAIMER: Information provided through the Teton IDX Program is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties and individual consumers interested in purchasing. Properties displayed through the Teton IDX Program may be selected by and displayed by an IDX participant, who may not necessarily be the listing agent. Any information contained herein is deemed reliable, but not guaranteed and the Teton MLS is not responsible or liable for the information.


Consistent sales proving Melody Ranch to be a favorable community.

There’s been some good activity in Melody Ranch lately. For the past few years there have been between 12 and 18 single-family homes on the market at any point in time, and the absorption has been quite healthy in this neighborhood. The most motivated sellers are pricing to sell.