Hoquiam, Washington Property Taxes
The median property tax rate in Hoquiam, WA is 1.31%, significantly higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Hoquiam, the typical annual property tax bill reaches $1,848, which is below the national median of $2,690. Property taxes in Hoquiam are calculated based on the tax assessed value, which generally falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hoquiam'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 Hoquiam or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hoquiam, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.31%
Estimate Property Tax Bill
$1,869
$1,826
Ownwell’s Hoquiam Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hoquiam with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hoquiam 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 Hoquiam, Washington
Property taxes in Hoquiam, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hoquiam is 1.31%, significantly higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Hoquiam set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hoquiam 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 Hoquiam's effective property tax rate to other areas in Washington and the national median. For comparison, the 98550 zip code has both the highest and lowest median property tax rate of 1.31%. Understanding how these areas compare with Hoquiam provides valuable insights into the varying tax landscape across Grays Harbor County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hoquiam Tax Rate
1.31%
Average Grays Harbor County Tax Rate
1.12%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hoquiam, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98550 | 0.23% | 1.11% | 1.31% | 1.54% | 1.85% |
Source: Ownwell
Property Tax Assessment Values Across Hoquiam, Washington
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Hoquiam, Washington. 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 Grays Harbor 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. Assessment notices in Hoquiam 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. The median home price in Hoquiam stands at $142,650. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. For instance, the highest median tax bill in Hoquiam is $1,848 in the 98550 zip code, which also has the lowest median tax bill of $1,848. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Hoquiam Assessed Value
$142,650
Average Grays Harbor County Assessed Value
$186,974
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hoquiam, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98550 | $60,863 | $99,770 | $142,650 | $208,411 | $292,369 |
Source: Ownwell
Property Tax Bills Across Hoquiam, Washington
In Hoquiam, located in Grays Harbor County, WA, property tax bills are calculated based on the assessed value of a homeowner's property. The assessed value is determined by the county assessor and typically reflects the market value of the property. Once the assessed value is established, the local tax rate is applied to calculate the annual property tax bill. For example, with a median home price of $142,650, homeowners in Hoquiam can expect varying tax bills. At the 25th percentile, the tax bill is approximately $1,135, while at the 75th percentile, it rises to around $2,632. Those in the 90th percentile may see tax bills as high as $3,814. The highest and lowest median tax bills in the area both stand at $1,848, indicating a level of consistency in property tax assessments within the zip code 98550. These property taxes fund essential local services such as schools, public safety, and infrastructure, directly impacting the quality of life for homeowners in the region.
Average Hoquiam Tax Bill
$1,848
Average Grays Harbor County Tax Bill
$1,990
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Hoquiam, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98550 | $249 | $1,135 | $1,848 | $2,632 | $3,814 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Grays Harbor Tax Assessor | |
| Website | graysharborwa-taxsifter.publicaccessnow.com |