Cathlamet, Washington Property Taxes
The median property tax rate in Cathlamet, WA is 0.74%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Cathlamet at $287,550, the typical annual property tax bill amounts to $2,172, falling below the national median of $2,690. Property taxes in Cathlamet are calculated based on the tax assessed value, which is often less than the market value due to exemptions such as those for primary residences and agricultural properties. Understanding Cathlamet'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 Cathlamet or another part of Wahkiakum County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Cathlamet, 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 Cathlamet Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Cathlamet with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Cathlamet 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 Cathlamet, Washington
Property taxes in Cathlamet, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Cathlamet is 0.74%, which is lower than both the Washington state median of 0.93% and the U.S. national median of 0.99%. Local government entities within Cathlamet set these rates annually, and they can vary significantly across different neighborhoods. Each year, Cathlamet 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 Cathlamet's effective property tax rate to other counties in Washington and the national median. For comparison, the 98612 zip code has both the highest and lowest median property tax rate of 0.74%. Understanding how these figures compare with Cathlamet provides valuable insights into the varying tax landscape across Wahkiakum County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Cathlamet Tax Rate
0.74%
Average Wahkiakum County Tax Rate
0.74%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Cathlamet, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98612 | 0.50% | 0.65% | 0.74% | 0.80% | 1.13% |
Source: Ownwell
Property Tax Assessment Values Across Cathlamet, Washington
In Cathlamet, 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 Wahkiakum 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 Cathlamet, 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. The median home price in Cathlamet is $287,550, with median tax bills ranging from $1,134 at the 25th percentile to $3,666 at the 90th percentile. The zip code 98612 holds both the highest and lowest median tax bills at $2,172. Being aware of these valuation processes in Cathlamet helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Cathlamet Assessed Value
$287,550
Average Wahkiakum County Assessed Value
$266,600
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Cathlamet, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98612 | $44,760 | $170,800 | $287,550 | $394,500 | $490,340 |
Source: Ownwell
Property Tax Bills Across Cathlamet, Washington
In Cathlamet, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the tax bill. For example, with a median home price of $287,550, homeowners can expect their tax bills to vary depending on the exact assessed value of their property and the specific tax rate applied. Several factors influence the final tax bill, including the property's location within Wahkiakum County and any applicable exemptions. For instance, the tax bill at the 25th percentile is around $1,134, while at the 75th percentile, it rises to approximately $2,905. The highest median tax bill in the area is $2,172, which is notably higher than the national median property tax rate of 0.99%. These property tax bills can significantly impact homeowners, influencing their overall housing costs and financial planning. Understanding how these taxes are calculated is crucial for homeowners to budget effectively and take advantage of any available exemptions.
Average Cathlamet Tax Bill
$2,172
Average Wahkiakum County Tax Bill
$1,926
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Cathlamet, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98612 | $216 | $1,134 | $2,172 | $2,905 | $3,666 |
Source: Ownwell