Camano Island, Washington Property Taxes
The median property tax rate in Camano Island, WA is 0.68%, 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 $639,869 in Camano Island, the typical annual property tax bill reaches $4,251, significantly exceeding the national median of $2,690. Property taxes in Camano Island are calculated based on the tax assessed value, which usually falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Camano Island'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 Camano Island 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
Camano Island, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.68%
Estimate Property Tax Bill
$4,351
-$45,600
Ownwell’s Camano Island Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Camano Island with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Camano Island 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 Camano Island, Washington
Property taxes in Camano Island, Washington, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Camano Island is 0.68%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Camano Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Camano Island 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 Camano Island's effective property tax rate to other counties in Washington and the national median. For comparison, the zip code 98282 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these cities compare with Camano Island provides valuable insights into the varying tax landscape across Island County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Camano Island Tax Rate
0.68%
Average Island County Tax Rate
0.68%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Camano Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98282 | 0.60% | 0.66% | 0.68% | 0.70% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Camano Island, Washington
In Camano Island, 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 Island 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 Camano Island, 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 Camano Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 98282 sees a median tax bill of $4,251, reflecting the broader tax trends in the area.
Property Tax Assessment Values Across Camano Island, Washington
Source: Ownwell
$454,081
$676,215
$898,348
Average Camano Island Assessed Value
$639,869
Average Island County Assessed Value
$541,558
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Camano Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98282 | $345,799 | $478,266 | $639,869 | $867,070 | $1,113,332 |
Source: Ownwell
Property Tax Bills Across Camano Island, Washington
Property tax bills in Camano Island, located in Island County, WA, are calculated based on the assessed value of the property and the local tax rate. Homeowners in this area typically face a median property tax bill of $4,251, which aligns with the highest and lowest median tax bills recorded in the 98282 zip code. The assessed value of a home is determined by the county assessor and is influenced by factors such as market conditions, property size, and improvements. For instance, with a median home price of $639,869, homeowners can expect to pay a significant amount in property taxes annually. The tax bill can vary widely, with the 25th percentile at $3,127 and the 75th percentile at $5,801. At the 90th percentile, the tax bill reaches $7,404. These taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting the quality of life in the community. Compared to the national median property tax rate of 0.99%, Camano Island's property tax bills reflect the area's higher property values and the corresponding need for public services.
Average Camano Island Tax Bill
$4,251
Average Island County Tax Bill
$3,760
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Camano Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98282 | $2,030 | $3,127 | $4,251 | $5,801 | $7,404 |
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 | |
|---|---|
| Island Tax Assessor | |
| Website | assessor.islandcountywa.gov |