Murdock, Washington Property Taxes
The median property tax rate in Murdock, WA is 0.95%, slightly below the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Murdock, the typical annual property tax bill reaches $1,675, which is lower than the national median of $2,690. Property taxes in Murdock are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Murdock'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 Murdock 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
Murdock, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.95%
Estimate Property Tax Bill
$1,669
$1,631
Ownwell’s Murdock Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Murdock with just two data points. By entering your property's estimated assessed value, the calculator uses the median tax rate in Murdock to provide an accurate property tax estimate. This valuable tool helps you understand potential tax liabilities and plan accordingly. For those interested in more granular insights, you can explore neighborhood-level trends by scrolling down. Your property’s assessed value is determined by the county for property tax purposes and takes into account any applicable exemptions.
Property Tax Rates Across Murdock, Washington
Property taxes in Murdock, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Murdock is 1.05%, higher than both the Washington state median of 0.98% and the U.S. national median of 0.99%. Local government entities within Murdock set these rates annually, and they can vary significantly across different neighborhoods. Each year, Murdock 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 Murdock's effective property tax rate to other counties in Washington and the national median. For comparison, the 98001 zip code has the highest median property tax rate of 1.20%, while the 98002 zip code has the lowest median tax rate of 0.75%. Understanding how these cities compare with Murdock provides valuable insights into the varying tax landscape across Klickitat County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Murdock Tax Rate
0.95%
Average Klickitat County Tax Rate
1.07%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Murdock, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Assessment Values Across Murdock, Washington
In Murdock, 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 Klickitat 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 Murdock, 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 Murdock helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Murdock is $175,725, with tax bills ranging from $1,321 at the 25th percentile to $2,240 at the 90th percentile.
Average Murdock Assessed Value
$175,725
Average Klickitat County Assessed Value
$126,140
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Murdock, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell
Property Tax Bills Across Murdock, Washington
In Murdock, Klickitat County, WA, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. The assessed value is a percentage of the property's market value and is subject to periodic evaluations to reflect current market conditions. The local property tax rate is then applied to this assessed value to determine the annual tax bill. Several factors influence the assessed value, including the property's location, size, and condition, as well as recent sales of comparable properties in the area. For homeowners, this means that fluctuations in the real estate market can significantly impact their property tax bills. In Murdock, the median home price is $175,725. Homeowners in the 25th percentile can expect a tax bill around $1,321, while those in the 75th percentile might see bills as high as $2,028. At the 90th percentile, tax bills can reach up to $2,240. These amounts highlight the variability in tax obligations, which can affect household budgets and financial planning.
Average Murdock Tax Bill
$1,675
Average Klickitat County Tax Bill
$1,272
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Murdock, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|
Source: Ownwell