Skykomish, Washington Property Taxes
The median property tax rate in Skykomish, WA is 0.80%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Skykomish at $280,000, the typical annual property tax bill is $2,235, falling below the national median of $2,690. Property taxes in Skykomish are calculated based on the tax assessed value, generally lower than the market value due to exemptions like the primary residence exemption. Understanding Skykomish'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 Skykomish or another part of King County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Skykomish, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.8%
Estimate Property Tax Bill
$2,240
$2,188
$1,148
Average Skykomish, Washington Tax Savings
Ownwell’s Skykomish Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Skykomish with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Skykomish 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 Skykomish. 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 Skykomish, Washington
Property taxes in Skykomish, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Skykomish is 0.80%, which is lower than the U.S. national median of 0.99%. Local government entities within Skykomish set these rates annually, and they can vary significantly across different neighborhoods. Each year, Skykomish 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 Skykomish's effective property tax rate to other areas in King County and the national median. For comparison, the zip code 98288 has the highest median property tax rate of 0.80%, while the same zip code also has the lowest median tax rate of 0.80%. Understanding how these areas compare with Skykomish 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 Skykomish Tax Rate
0.80%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Skykomish, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98288 | 0.72% | 0.72% | 0.80% | 0.84% | 0.91% |
Source: Ownwell
$1,148
Average Skykomish Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Skykomish, Washington
In Skykomish, 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 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 Skykomish, 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. The median home price in Skykomish is $280,000, and property tax bills can vary significantly. For instance, the 25th percentile tax bill is $1,460, while the 75th percentile tax bill is $2,803. 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 Skykomish helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Skykomish, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Skykomish Assessed Value
$280,000
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 Skykomish, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98288 | $127,500 | $197,250 | $280,500 | $354,750 | $446,000 |
Source: Ownwell
$1,148
Average Skykomish Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Skykomish, Washington
In Skykomish, King County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Factors such as the home's market value, location, and any applicable exemptions or deductions play a significant role in this calculation. For example, the median home price in Skykomish is $280,000. Homeowners in the 25th percentile pay around $1,460 in property taxes, while those in the 75th percentile face bills of about $2,803. The highest median tax bill in the 98288 zip code is $2,235, which is above the national median property tax rate of 0.99%. Ownwell helps homeowners save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing your assessed value and identifying potential discrepancies or applicable exemptions, Ownwell can help reduce your property tax burden, ensuring you only pay your fair share.
Average Skykomish Tax Bill
$2,235
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Skykomish, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98288 | $984 | $1,463 | $2,235 | $2,804 | $3,427 |
Source: Ownwell
$1,148
Average Skykomish 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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