Riverside, Washington Property Taxes
The median property tax rate in Riverside, WA is 1.03%, which is notably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Riverside, the typical annual property tax bill totals $1,212, which is below the national median of $2,690. Property taxes in Riverside are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Riverside'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 Riverside 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
Riverside, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.03%
Estimate Property Tax Bill
$1,324
$1,293
Ownwell’s Riverside Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Riverside with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Riverside 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 Riverside, Washington
Property taxes in Riverside, WA, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Riverside is 1.03%, higher than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Riverside set these rates annually, and they can vary significantly across different neighborhoods. Each year, Riverside 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 Riverside's effective property tax rate to other counties in Washington and the national median. For comparison, the 98849 zip code has both the highest and lowest median property tax rate of 1.03%. Understanding how these cities compare with Riverside provides valuable insights into the varying tax landscape across Okanogan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Riverside Tax Rate
1.03%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Riverside, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98849 | 0.51% | 0.95% | 1.03% | 1.08% | 1.11% |
Source: Ownwell
Property Tax Assessment Values Across Riverside, Washington
In Riverside, 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 Okanogan 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 Riverside, 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 Riverside helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Riverside is $128,500, with annual tax bills ranging from $549 at the 25th percentile to $2,877 at the 90th percentile. The highest and lowest median tax bills are both $1,212 in the 98849 zip code.
Average Riverside Assessed Value
$128,500
Average Okanogan County Assessed Value
$128,000
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Riverside, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98849 | $34,640 | $69,600 | $128,500 | $183,200 | $286,040 |
Source: Ownwell
Property Tax Bills Across Riverside, Washington
In Riverside, WA, property tax bills are calculated based on the assessed value of the home, which is determined by the local tax assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For instance, with a median home price of $128,500, the tax bill can vary widely depending on the assessed value and specific circumstances of the property. Factors such as the property's location within Riverside, improvements made to the home, and changes in the real estate market can all influence the assessed value. For homeowners, this means that property tax bills can range significantly. In Riverside, the 25th percentile tax bill is $549, while the 75th percentile tax bill is $1,789. At the higher end, the 90th percentile tax bill reaches $2,877. Comparatively, the highest median tax bill in the area is $1,212, found in the zip code 98849. Understanding these factors can help homeowners anticipate their property tax obligations and plan their finances accordingly.
Average Riverside Tax Bill
$1,212
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Riverside, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98849 | $247 | $549 | $1,212 | $1,789 | $2,877 |
Source: Ownwell