Hunts Point, Washington Property Taxes
The median property tax rate in Hunts Point, WA is 0.61%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Hunts Point at $7,093,000, the typical annual property tax bill reaches $43,192, far exceeding the national median of $2,690. Property taxes in Hunts Point are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence exemption. Understanding Hunts Point'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 Hunts Point 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
Hunts Point, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.61%
Estimate Property Tax Bill
$43,267
$42,269
$1,148
Average Hunts Point, Washington Tax Savings
Ownwell’s Hunts Point Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hunts Point with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hunts Point to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Hunts Point. 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 Hunts Point, Washington
Property taxes in Hunts Point, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hunts Point is 0.61%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Hunts Point set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hunts Point 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 Hunts Point's effective property tax rate to other counties in Washington and the national median. For comparison, the 98004 zip code has both the highest and lowest median property tax rate of 0.61%. Understanding how these cities compare with Hunts Point provides valuable insights into the varying tax landscape across King County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hunts Point Tax Rate
0.61%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hunts Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | 0.61% | 0.61% | 0.61% | 0.61% | 0.61% |
Source: Ownwell
$1,148
Average Hunts Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Hunts Point, Washington
In Hunts Point, 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 King County 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 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 Hunts Point helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Hunts Point are both $43,192, found in the zip code 98004.
Property Tax Assessment Values Across Hunts Point, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Hunts Point Assessed Value
$7,093,000
Average King County Assessed Value
$770,000
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hunts Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | $2,637,800 | $3,730,500 | $7,093,000 | $14,205,000 | $18,949,000 |
Source: Ownwell
$1,148
Average Hunts Point Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Hunts Point, Washington
In Hunts Point, WA, property tax bills are calculated based on the assessed value of the property, which is determined by the King County Assessor's Office. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Several factors influence the assessed value, including the property's market value, location, and any improvements made. For example, in Hunts Point, the median home price is $7,093,000, leading to substantial tax bills. Homeowners in the 25th percentile pay around $22,726, while those in the 75th percentile face bills as high as $86,482. High property taxes can significantly impact homeowners, making it crucial to ensure that assessments are accurate. Ownwell can help homeowners save on their property tax bills by providing expert property tax appeal services. By analyzing property data and market trends, Ownwell identifies discrepancies in assessments and advocates for fair valuations, potentially reducing the tax burden and ensuring homeowners only pay their fair share.
Average Hunts Point Tax Bill
$43,192
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Hunts Point, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98004 | $15,824 | $22,726 | $43,192 | $86,482 | $115,358 |
Source: Ownwell
$1,148
Average Hunts Point Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| King Tax Assessor | |
| Phone | (206) 296-7300 |
| Website | blue.kingcounty.com |
| assessor.info@kingcounty.gov | |
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