Forks, Washington Property Taxes
The median property tax rate in Forks, WA is 0.86%, slightly lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Forks at $194,410, the typical annual property tax bill amounts to $1,549, which is below the national median of $2,690. Property taxes in Forks are calculated based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Forks' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Forks or another part of Clallam County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Forks, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.86%
Estimate Property Tax Bill
$1,672
$1,633
Ownwell’s Forks Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Forks with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Forks 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 Forks, Washington
Property taxes in Forks, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Forks is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Forks set these rates annually, and they can vary significantly across different neighborhoods. Each year, Forks 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 Forks' effective property tax rate to other areas in Clallam County and the national median. For comparison, the zip code 98331 has both the highest and lowest median property tax rate in Forks, which stands at 0.86%. Understanding how these rates compare within Forks provides valuable insights into the varying tax landscape across Clallam County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Forks Tax Rate
0.86%
Average Clallam County Tax Rate
0.81%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | 0.79% | 0.81% | 0.86% | 0.86% | 0.87% |
Source: Ownwell
Property Tax Assessment Values Across Forks, Washington
In Forks, 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 Clallam 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 Forks, 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 Forks helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Forks is $194,410, with the highest and lowest median tax bills both being $1,549 in the 98331 zip code.
Average Forks Assessed Value
$194,410
Average Clallam County Assessed Value
$360,554
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | $5,224 | $72,629 | $194,410 | $285,045 | $381,456 |
Source: Ownwell
Property Tax Bills Across Forks, Washington
In Forks, WA, property tax bills are calculated based on the assessed value of the home and the tax rate set by Clallam County. The median home price in Forks is $194,410, which serves as a baseline for assessing property values. The tax rate is applied to this assessed value to determine the annual tax bill. Factors influencing the tax bill include property size, location, and any improvements made to the property. For homeowners, the tax bill can vary significantly. The 25th percentile tax bill is $466, indicating that lower-valued homes or those with exemptions pay less. On the higher end, the 75th percentile tax bill is $2,373, and the 90th percentile reaches up to $3,092, reflecting higher-valued properties or those with fewer exemptions. The highest median tax bill in the area is $1,549, which is above the national median property tax rate of 0.99%. This variability can significantly impact homeowners' annual expenses, influencing their overall cost of living and financial planning.
Average Forks Tax Bill
$1,549
Average Clallam County Tax Bill
$3,024
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Forks, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98331 | $36 | $466 | $1,549 | $2,373 | $3,092 |
Source: Ownwell
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | July 1 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Clallam Tax Assessor | |
| Website | websrv22.clallam.net |