Prosser, Washington Property Taxes
The median property tax rate in Prosser, WA is 1.15%, which is notably higher than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $197,020, the typical annual property tax bill in Prosser amounts to $2,227, still below the national median of $2,690. Property taxes in Prosser are calculated based on the tax assessed value, which often falls below the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Prosser's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Prosser or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Prosser, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.15%
Estimate Property Tax Bill
$2,266
$2,213
Ownwell’s Prosser Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Prosser with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Prosser to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Benton County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Prosser, Washington
Property taxes in Prosser, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Prosser is 1.15%, which is significantly higher than the U.S. national median of 0.99%. Local government entities within Prosser set these rates annually, and they can vary significantly across different neighborhoods. Each year, Prosser estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Prosser's effective property tax rate to other counties in Washington and the national median. For comparison, the 99350 zip code has the highest median property tax rate of 1.15%, while the 99350 zip code also has the lowest median tax rate of 1.15%. Understanding how these cities compare with Prosser provides valuable insights into the varying tax landscape across Benton County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Prosser Tax Rate
1.15%
Average Benton County Tax Rate
0.98%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Prosser, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99350 | 1.11% | 1.12% | 1.15% | 1.19% | 1.20% |
Source: Ownwell
Property Tax Assessment Values Across Prosser, Washington
In Prosser, Washington, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Benton County Assessor for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Prosser, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Prosser helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest and lowest median tax bill is 99350, with a median tax bill of $2,227.
Average Prosser Assessed Value
$197,020
Average Benton County Assessed Value
$282,560
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Prosser, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99350 | $45,000 | $122,695 | $197,020 | $282,945 | $399,579 |
Source: Ownwell
Property Tax Bills Across Prosser, Washington
In Prosser, located in Benton County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is then multiplied by the local property tax rate. Homeowners in Prosser experience a range of property tax bills. For example, the 25th percentile tax bill is around $1,262, while the 75th percentile tax bill reaches up to $3,231. At the higher end, the 90th percentile tax bill can be as much as $4,562. The median home price in Prosser is approximately $197,020, which influences the overall tax burden. These taxes fund essential local services such as schools, public safety, and infrastructure. Compared to the national median property tax rate of 0.99%, homeowners in Prosser may find their tax obligations vary significantly based on their property's assessed value and specific location within the county. Understanding these factors is crucial for homeowners to anticipate their annual property tax expenses accurately.
Average Prosser Tax Bill
$2,227
Average Benton County Tax Bill
$2,407
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Prosser, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99350 | $369 | $1,262 | $2,227 | $3,231 | $4,562 |
Source: Ownwell