Eltopia, Washington Property Taxes
The median property tax rate in Eltopia, WA is 0.68%, considerably lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Eltopia at $364,700, the typical annual property tax bill reaches $2,289, which is below the national median of $2,690. Property taxes in Eltopia 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 Eltopia'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 Eltopia or another part of Franklin County, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Eltopia, 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 Eltopia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Eltopia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Eltopia 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 Eltopia, Washington
Property taxes in Eltopia, Washington, are essential in funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Eltopia is 0.68%, which is lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Eltopia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Eltopia 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 Eltopia's effective property tax rate to other areas in Washington and the national median. For comparison, the zip code 99330 has the highest median property tax rate of 0.68%, while the same zip code also has the lowest median tax rate of 0.68%. Understanding how these areas compare with Eltopia provides valuable insights into the varying tax landscape across Franklin County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring regions.
Average Eltopia Tax Rate
0.68%
Average Franklin County Tax Rate
0.71%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Eltopia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99330 | 0.50% | 0.53% | 0.68% | 0.72% | 0.75% |
Source: Ownwell
Property Tax Assessment Values Across Eltopia, Washington
In Eltopia, 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 Franklin 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 Eltopia, 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 Eltopia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in the area is $2,289 in zip code 99330, which is also the lowest median tax bill, providing a clear benchmark for residents.
Average Eltopia Assessed Value
$364,700
Average Franklin County Assessed Value
$384,600
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Eltopia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99330 | $33,380 | $188,950 | $364,700 | $459,900 | $605,660 |
Source: Ownwell
Property Tax Bills Across Eltopia, Washington
In Eltopia, located in Franklin County, WA, property tax bills are calculated based on the assessed value of the home. This assessed value is determined by the county assessor and is a percentage of the property's market value. Homeowners in Eltopia experience a range of property tax bills, influenced by several factors including property size, location, and any applicable exemptions. The median home price in Eltopia is $364,700, and homeowners can expect their tax bills to vary significantly. For instance, those in the 25th percentile pay around $977 annually, while those in the 75th percentile face bills of approximately $3,154. At the higher end, in the 90th percentile, tax bills can reach up to $3,843. Compared to the national median property tax rate of 0.99%, Eltopia's property taxes reflect the local economic conditions and assessed property values. These tax bills directly impact homeowners by influencing their annual housing costs and potentially affecting the affordability of homeownership in the area.
Average Eltopia Tax Bill
$2,289
Average Franklin County Tax Bill
$2,758
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Eltopia, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 99330 | $186 | $977 | $2,289 | $3,154 | $3,843 |
Source: Ownwell