Wellpinit, Washington Property Taxes
The median property tax rate in Wellpinit, WA is 0.85%, slightly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Wellpinit at $75,302, the typical annual property tax bill is $570, significantly below the national median of $2,690. Property taxes in Wellpinit are calculated based on the assessed value, which often falls below the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Wellpinit'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 Wellpinit 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
Wellpinit, Washington Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.88%
Estimate Property Tax Bill
$1,760
Ownwell’s Wellpinit Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Wellpinit with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Wellpinit 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 Stevens County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Wellpinit, Washington
Property taxes in Wellpinit, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Wellpinit is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Wellpinit set these rates annually, and they can vary significantly across different neighborhoods. Each year, Wellpinit 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 Wellpinit's effective property tax rate to other areas in Stevens County and the national median. For comparison, the zip code 99040 has both the highest and lowest median property tax rate of 0.85%. Understanding how these areas compare with Wellpinit provides valuable insights into the varying tax landscape across Stevens County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Wellpinit Tax Rate
0.85%
Average Stevens County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Wellpinit, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99040 | 0.59% | 0.79% | 0.85% | 1.27% | 1.86% |
Source: Ownwell
Property Tax Assessment Values Across Wellpinit, Washington
In Wellpinit, 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 Stevens 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 Wellpinit, 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 Wellpinit helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest median tax bill in Wellpinit is $570.00 in the 99040 zip code, while the lowest median tax bill is also $570.00 in the same zip code.
Average Wellpinit Assessed Value
$75,302
Average Stevens County Assessed Value
$158,721
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Wellpinit, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99040 | $18,021 | $32,080 | $75,302 | $124,856 | $173,649 |
Source: Ownwell
Property Tax Bills Across Wellpinit, Washington
In Wellpinit, located in Stevens County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The tax rate is applied to this assessed value to calculate the tax bill. For example, with a median home price of $75,302, property tax bills can vary significantly. Homeowners in the 25th percentile of tax bills pay around $314, while those in the 75th percentile pay about $1,010, and in the 90th percentile, the tax bill can reach up to $1,953. Several factors influence the assessed value, including the home's market value, improvements, and local real estate trends. These property taxes fund essential public services such as schools, emergency services, and infrastructure, directly impacting homeowners by contributing to community resources. Compared to the national median property tax rate of 0.99%, the property tax rate in Wellpinit offers a unique perspective on local taxation and its implications for residents.
Average Wellpinit Tax Bill
$570
Average Stevens County Tax Bill
$1,378
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Wellpinit, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99040 | $2 | $314 | $570 | $1,010 | $1,953 |
Source: Ownwell