Hay, Washington Property Taxes
The median property tax rate in HAY, WA is 1.19%, considerably higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in HAY, the typical annual property tax bill reaches $338, exceeding the national median of $2,690. Property taxes in HAY are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding HAY'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 HAY 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
Hay, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.19%
Estimate Property Tax Bill
$355
$346
Ownwell’s HAY Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in HAY with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in HAY 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 Hay, Washington
Property taxes in HAY, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in HAY is 1.19%, which is higher than the U.S. national median of 0.99%. Local government entities within HAY set these rates annually, and they can vary significantly across different neighborhoods. Each year, HAY 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 HAY's effective property tax rate to other counties in Washington and the national median. For comparison, the 99136 zip code has the highest median property tax rate of 1.19%, while the 99136 zip code also has the lowest median tax rate of 1.19%. Understanding how these cities compare with HAY provides valuable insights into the varying tax landscape across Whitman County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hay Tax Rate
1.19%
Average Whitman County Tax Rate
1.48%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99136 | 1.14% | 1.19% | 1.19% | 1.19% | 1.19% |
Source: Ownwell
Property Tax Assessment Values Across Hay, Washington
In HAY, 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 Whitman 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 HAY, 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 HAY helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code with the highest median tax bill is 99136, with a tax bill of $338.00, while the lowest median tax bill is also in 99136, at $338.00.
Average Hay Assessed Value
$29,802
Average Whitman County Assessed Value
$117,153
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99136 | $8,920 | $16,880 | $29,802 | $47,612 | $132,164 |
Source: Ownwell
Property Tax Bills Across Hay, Washington
In HAY, Whitman County, WA, property tax bills are calculated based on the assessed value of the property, which is determined by the local assessor's office. The assessed value is a percentage of the property's market value. Several factors influence this assessment, including the property's location, size, and condition. Once the assessed value is established, the local tax rate is applied to calculate the tax bill. For homeowners in HAY, the median home price is $29,802, with tax bills varying significantly. At the 25th percentile, the tax bill is $193, while at the 75th percentile, it rises to $538. For those at the 90th percentile, the tax bill can be as high as $1,556. Compared to the national median property tax rate of 0.99%, these figures highlight the variability within the region. Homeowners in HAY need to be aware of these factors as they can significantly impact their annual property tax obligations, influencing their overall financial planning and property-related decisions.
Average Hay Tax Bill
$338
Average Whitman County Tax Bill
$1,573
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Hay, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99136 | $87 | $193 | $338 | $538 | $1,556 |
Source: Ownwell