Quincy, Washington Property Taxes
The median property tax rate in Quincy, WA is 0.69%, which is notably lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $722,600 in Quincy, the typical annual property tax bill amounts to $4,982, still surpassing the national median of $2,690. Property taxes in Quincy are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Quincy'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 Quincy or another part of Franklin County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Quincy, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Quincy Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Quincy with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Quincy 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 Quincy, Washington
Property taxes in Quincy, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Quincy is 0.69%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Quincy set these rates annually, and they can vary significantly across different neighborhoods. Each year, Quincy 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 Quincy's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98848 has both the highest and lowest median property tax rate of 0.69%. Understanding how these cities compare with Quincy provides valuable insights into the varying tax landscape across Franklin, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Quincy Tax Rate
0.69%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Quincy, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98848 | 0.69% | 0.69% | 0.69% | 0.69% | 0.69% |
Source: Ownwell
Property Tax Assessment Values Across Quincy, Washington
In Quincy, 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 local appraisal district 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. Assessment notices in Quincy 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 Quincy helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Quincy, both at $4,982, are found in the 98848 zip code.
Average Quincy Assessed Value
$722,600
Average Franklin County Assessed Value
$384,600
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Quincy, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98848 | $722,600 | $722,600 | $722,600 | $722,600 | $722,600 |
Source: Ownwell
Property Tax Bills Across Quincy, Washington
Property tax bills in Quincy, Franklin County, WA, are determined based on the assessed value of a property, which is a percentage of its market value. The local tax rate is then applied to this assessed value to calculate the annual tax bill. In Quincy, the median home price is $722,600, and the property tax bill for a significant portion of homeowners, including the 25th, 75th, and 90th percentiles, is consistently $4,982. This suggests a relatively uniform tax rate across different property values in the area. Several factors influence property tax bills, including changes in the real estate market, local government budgets, and specific levies for schools or infrastructure. For homeowners, these taxes are a crucial part of their annual expenses, impacting their overall cost of living and potentially influencing their decisions on property investments. Compared to the national median property tax rate of 0.99%, Quincy’s effective tax rate appears to be competitive, providing a balanced approach to funding community services while maintaining affordability for residents.
Average Quincy Tax Bill
$4,982
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Quincy, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98848 | $4,982 | $4,982 | $4,982 | $4,982 | $4,982 |
Source: Ownwell