Homes and buildings on agricultural land are valued much the same as residential homes and buildings. However, agricultural land requires different consideration. It is valued on its current use rather than its highest and best use.
Agricultural land value is based on land use with the income approach. The assessor’s office determines value based on the land use and it's ability to produce. For example, dry farm and irrigated lands are valued on their ability to produce hay and grain, while grazing land is valued based on Animal Units/Month (AUM's), or the ability to sustain a cow/cow calf pair for a reasonable amount of time. Most farms and ranches in Campbell County have land falling into more than one use class or category.
Refer to Wyoming Statute 39-13-103 for further information