Chinook, Washington Property Taxes
The median property tax rate in Chinook, 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 $274,700 in Chinook, the typical annual property tax bill amounts to $1,880, falling below the national median of $2,690. Property taxes in Chinook are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding Chinook's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you reside in the heart of Chinook or another part of the city, gaining insight into the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Chinook, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.7%
Estimate Property Tax Bill
$1,923
$1,879
Ownwell’s Chinook Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Chinook with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Chinook 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 Chinook, Washington
Property taxes in Chinook, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Chinook is 0.70%, lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Chinook set these rates annually, and they can vary significantly across different neighborhoods. Each year, Chinook 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 Chinook's effective property tax rate to other counties in Washington and the national median. For comparison, the 98614 zip code has the highest median property tax rate of 0.70%, while the same zip code also has the lowest median tax rate of 0.70%. Understanding how these cities compare with Chinook provides valuable insights into the varying tax landscape across Pacific County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Chinook Tax Rate
0.70%
Average Pacific County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Chinook, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98614 | 0.68% | 0.70% | 0.70% | 0.71% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Chinook, Washington
In Chinook, 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 Pacific 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 Chinook, 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 Chinook is $274,700, with tax bills ranging from $1,100 at the 25th percentile to $3,900 at the 90th percentile. The highest and lowest median tax bills both stand at $1,880 in the 98614 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 Chinook helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Chinook Assessed Value
$274,700
Average Pacific County Assessed Value
$192,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Chinook, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98614 | $101,000 | $181,600 | $274,700 | $389,350 | $554,100 |
Source: Ownwell
Property Tax Bills Across Chinook, Washington
In Chinook, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor’s office. This assessed value is a percentage of the market value of the home. For instance, with a median home price of $274,700, homeowners can expect tax bills to vary significantly. Factors such as location, property size, and improvements play a crucial role in determining the final tax bill. For homeowners in Chinook, tax bills range from $1,100 at the 25th percentile to $3,900 at the 90th percentile. The median tax bill in the area is notably higher than the national median property tax rate of 0.99%. This variation in tax bills affects homeowners by influencing their annual housing costs and potentially impacting the overall affordability of their homes. Understanding these factors can help homeowners better anticipate their yearly financial obligations and plan accordingly.
Average Chinook Tax Bill
$1,880
Average Pacific County Tax Bill
$1,389
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Chinook, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98614 | $394 | $1,100 | $1,880 | $2,619 | $3,900 |
Source: Ownwell