Silverlake, Washington Property Taxes
The median property tax rate in Silverlake, WA is 0.96%, slightly below the national median of 0.99% but higher than the Washington state median of 0.88%. With the median home value in Silverlake at $380,710, the typical annual property tax bill reaches $3,497, significantly exceeding the national median of $2,690. Property taxes in Silverlake are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Silverlake'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 Silverlake 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
Silverlake, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.96%
Estimate Property Tax Bill
$3,655
$3,570
Ownwell’s Silverlake Property Tax Bill Calculator is an invaluable tool for homeowners, real estate investors, and potential property buyers looking to estimate their annual property taxes in Silverlake. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Silverlake to provide a precise estimate of your property tax bill. This user-friendly tool offers clarity on potential tax liabilities, allowing you to plan your finances more effectively. For those interested in more granular details, scroll down to explore neighborhood-level trends. Your property's assessed value, determined by Cowlitz County for tax purposes, will be adjusted for any applicable exemptions, ensuring an accurate calculation.
Property Tax Rates Across Silverlake, Washington
Property taxes in Silverlake, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Silverlake is 0.96%, which is just below the U.S. national median of 0.99%. Local government entities within Silverlake set these rates annually, and they can vary significantly across different neighborhoods. Each year, Silverlake 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 Silverlake's effective property tax rate to other regions and the national median. For comparison, the zip code 98645 has both the highest and lowest median property tax rate in the area, standing at 0.96%. Understanding how these cities compare with Silverlake provides valuable insights into the varying tax landscape across Cowlitz County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Silverlake Tax Rate
0.96%
Average Cowlitz County Tax Rate
0.89%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Silverlake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98645 | 0.88% | 0.89% | 0.96% | 0.97% | 0.97% |
Source: Ownwell
Property Tax Assessment Values Across Silverlake, Washington
In Silverlake, 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 Cowlitz 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 Silverlake, 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 Silverlake helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Silverlake's highest median tax bill is $3,497 in zip code 98645, which is significantly above the national median property tax rate of 0.99%.
Average Silverlake Assessed Value
$380,710
Average Cowlitz County Assessed Value
$335,640
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Silverlake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98645 | $128,048 | $250,285 | $380,710 | $472,810 | $578,994 |
Source: Ownwell
Property Tax Bills Across Silverlake, Washington
In Silverlake, property tax bills are calculated based on the assessed value of a home, which is determined by the local assessor's office. The assessed value is a percentage of the market value of the property. Homeowners in Silverlake, located in Cowlitz County, typically face property tax bills that vary depending on the value of their homes. For instance, the median home price in the area is around $380,710. The property tax rate in Silverlake results in a 25th percentile tax bill of approximately $2,268 and a 75th percentile tax bill of about $4,323. The 90th percentile tax bill can reach up to $5,286. These tax bills are influenced by various factors including the property's location, market conditions, and any applicable exemptions. Compared to the national median property tax rate of 0.99%, Silverlake's rates can be seen as relatively high or low depending on specific property values. Homeowners must budget for these taxes as they significantly impact the overall cost of owning a home in the area.
Average Silverlake Tax Bill
$3,497
Average Cowlitz County Tax Bill
$3,062
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Silverlake, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98645 | $820 | $2,268 | $3,497 | $4,323 | $5,286 |
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 | |
|---|---|
| Cowlitz Tax Assessor | |
| Website | cowlitzinfo.net |