Silver Creek, Washington Property Taxes
The median property tax rate in Silver Creek, WA is 0.70%, which is notably lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $376,850 in Silver Creek, the typical annual property tax bill amounts to $2,558, falling below the national median of $2,690. Property taxes in Silver Creek are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as the primary residence and agricultural exemptions. Understanding Silver Creek'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 Silver Creek or another part of Lewis County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Silver Creek, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$2,638
$2,577
Ownwell’s Silver Creek Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Silver Creek with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Silver Creek 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 Silver Creek, Washington
Property taxes in Silver Creek, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silver Creek is 0.70%, which is lower than the U.S. national median of 0.99%. Local government entities within Silver Creek set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silver Creek 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 Silver Creek's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 98585 has the highest median property tax rate of 0.70%, while also having the lowest median tax rate of 0.70%. Understanding how these areas compare with Silver Creek provides valuable insights into the varying tax landscape across Lewis County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silver Creek Tax Rate
0.70%
Average Lewis County Tax Rate
0.75%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silver Creek, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98585 | 0.67% | 0.67% | 0.70% | 0.72% | 0.73% |
Source: Ownwell
Property Tax Assessment Values Across Silver Creek, Washington
In Silver Creek, 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 Lewis 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. In Silver Creek, 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 Silver Creek is $376,850, with tax bills ranging from $1,498 at the 25th percentile to $4,586 at the 90th percentile. The highest and lowest median tax bills are both $2,558 in the 98585 zip code. 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 Silver Creek helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Silver Creek, Washington
Source: Ownwell
$24,300
$213,700
$403,100
Average Silver Creek Assessed Value
$376,850
Average Lewis County Assessed Value
$301,900
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silver Creek, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98585 | $119,410 | $253,700 | $376,850 | $518,600 | $662,410 |
Source: Ownwell
Property Tax Bills Across Silver Creek, Washington
In Silver Creek, property tax bills are calculated based on the assessed value of a home and the local tax rate set by Lewis County. The median home price in Silver Creek is $376,850. Homeowners can expect their tax bill to vary significantly depending on the assessed value and specific location within the county. For instance, the tax bill at the 25th percentile is $1,498, while at the 75th percentile, it rises to $3,578. At the 90th percentile, homeowners might see a tax bill as high as $4,586. The highest and lowest median tax bills in the area both stand at $2,558 in the 98585 zip code, indicating some consistency in certain parts of the city. These property tax bills impact homeowners by contributing to local services such as schools, emergency services, and infrastructure. Compared to the national median property tax rate of 0.99%, Silver Creek's tax bills reflect the unique economic and real estate conditions of the region.
Average Silver Creek Tax Bill
$2,558
Average Lewis County Tax Bill
$2,229
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Silver Creek, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98585 | $605 | $1,498 | $2,558 | $3,578 | $4,586 |
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 | |
|---|---|
| Lewis Tax Assessor | |
| Website | parcels.lewiscountywa.gov |