Inchelium, Washington Property Taxes
The median property tax rate in Inchelium, WA is 0.79%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $79,700 in Inchelium, the typical annual property tax bill is $716, significantly below the national median of $2,690. Property taxes in Inchelium are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Inchelium'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 Inchelium or another part of Ferry County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Inchelium, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.79%
Estimate Property Tax Bill
$630
$615
Ownwell’s Inchelium Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Inchelium with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Inchelium 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 the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Inchelium, Washington
Property taxes in Inchelium, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Inchelium is 0.79%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Inchelium set these rates annually, and they can vary significantly across different neighborhoods. Each year, Inchelium 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 Inchelium's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 99138 has both the highest and lowest median property tax rate of 0.79%. Understanding how these cities compare with Inchelium provides valuable insights into the varying tax landscape across Ferry County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Inchelium Tax Rate
0.79%
Average Ferry County Tax Rate
0.93%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Inchelium, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99138 | 0.77% | 0.77% | 0.79% | 0.81% | 0.85% |
Source: Ownwell
Property Tax Assessment Values Across Inchelium, Washington
In Inchelium, 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 Ferry 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 Inchelium, 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 Inchelium helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Inchelium is $716 in the 99138 zip code, which is also the lowest median tax bill in the area.
Average Inchelium Assessed Value
$79,700
Average Ferry County Assessed Value
$101,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Inchelium, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99138 | $20,720 | $30,975 | $79,700 | $178,450 | $274,770 |
Source: Ownwell
Property Tax Bills Across Inchelium, Washington
Inchelium in Ferry County, WA, calculates property tax bills based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Inchelium is $79,700, and property tax rates in the area can vary, but homeowners can expect a median tax bill of $716.00, which is significantly lower than the national median property tax rate of 0.99%. Several factors influence the tax bill, including the home's assessed value, any applicable exemptions, and the specific levy rates set by local taxing authorities. For instance, the tax bill at the 25th percentile is $262, while at the 75th percentile, it rises to $1,409, and at the 90th percentile, it can reach up to $2,167. These variations can significantly impact homeowners, affecting their annual budgeting and long-term financial planning. Lower property taxes can make homeownership more affordable, attracting new residents and boosting the local economy.
Average Inchelium Tax Bill
$716
Average Ferry County Tax Bill
$850
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Inchelium, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99138 | $167 | $262 | $716 | $1,409 | $2,167 |
Source: Ownwell