DiMaggio Betta GroupHome Buying March 28, 2025

Why it’s good to own a property in Wyoming

Why it’s good to own a property in Wyoming: Other than the tranquility and beauty of the Grand Tetons and surrounding environment. 

Here are 10 good reasons why it’s good to own a home in Wyoming:

  1. No state income tax: With no state tax on personal or corporate income, “you have more disposable income,” Jones says.
  2. 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,” Jones says. “You can transfer your real estate into a limited liability company or a 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.
  3. No inheritance tax or estate tax: “Wyoming repealed its estate tax as of January 1, 2005,” Jones says.
  4. 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,” Jones says.
  5. No tax on out-of-state retirement income: “A lot of people in Jackson Hole use Wyoming as a second home,” Jones says. “They have retirement income that comes from other states where they may be a resident. Wyoming doesn’t tax that retirement income that’s earned outside of Wyoming, which is certainly beneficial.”
  6. Low property taxes: “Wyoming has very low property taxes compared to other states,” Jones says. “The taxes that you do pay here are based on the assessed value of the property.” For Teton County, he says, the rate is 1.2 percent of a property’s assessed value. The rate for the city of Jackson is 8/10 of one percent.
  7. No excise taxes: When you fill up your car’s gas tank or buy a bag of groceries in Wyoming, you won’t pay any state tax on your gas or food.
  8. No tax on mineral ownership. “A lot of states charge owners a tax on their mineral ownership, but Wyoming does not,” Jones says. “If you own minerals, you won’t pay a tax on it like you would your home.”
  9. No intangible taxes: Wyoming doesn’t make you pay a tax on financial assets like stocks and bonds.
  10. No tax on the sale of real estate.

Seeking a knowledgeable and experienced Real Estate Advisor, reach out and let us make an introduction. Wherever you aim to be we have you covered. www.DiMaggioBettaGroup.con | Debbi.DiMaggio@corcoranicon.com | Adam.Betta@corcoranicon.com510.414.6777 | 510.414.1250

DiMaggio Betta Group March 15, 2024

Five Stars for The DiMaggio Betta Real Estate Group

In The News December 27, 2022

New Year, New Name, Same Iconic Brand

The new affiliate debuts in six of the region’s most desirable markets, including the greater San Francisco Bay Area.

Corcoran today announced the launch of its newest affiliate, Corcoran Icon Properties. Based in Northern California, the new company comprises 24 offices and over 900 sales associates and staff who were formerly with well-known brands, including Zephyr Real Estate, Terra Firma Global Partners, MikkiMoves Real Estate, Barry Ward Realty, Caldecott Properties, Discovery Bay Properties, Thrive Real Estate, and Highland Partners.

With a footprint that stretches across six markets, including the greater San Francisco Bay Area, Humboldt County, and Calaveras County in California’s Gold Country, sales associates will continue to represent clients in some of the most discerning communities in the region.

Corcoran Icon Properties will be led by CEO Randall Kostick and President Steve Belluomini. Kostick has been in the real estate business for over 35 years, while Belluomini was the former President of Thrive Real Estate.

Rounding out this talented leadership team is Chief Operating Officer, Matt Borland, and Chief Marketing Officer, Melody Foster. Not only will this continuity of leadership benefit the broader team; creating a new entity within the Corcoran affiliate network allows agents to have access to the same tools and services that they’ve relied on, ensuring they don’t miss a beat when servicing their clients.

“I’m thrilled to see Corcoran Icon Properties ushering in a new era for Corcoran in Northern California,” said Pamela Liebman, President and CEO of The Corcoran Group. “With the power of our brand behind them, I’m confident that this team will achieve even greater success in 2023 and beyond.”

“Forming a new Corcoran franchise with our united NorCal group allowed us to oversee our operations at a local level and position the team for a successful future,” added Belluomini. “This is an exciting moment for us, and I’d like to thank a very hard-working group of agents and staff for staying the course and joining us on this new road together.”

DiMaggio Betta Group January 7, 2022

We Represent People Not Price

Buying or Selling, no matter your price point, the DiMaggio Betta Group represents people not price.  Here are a few of our favorites.