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Black Diamond, Washington Property Taxes

The median property tax rate in Black Diamond, WA is 0.85%, slightly lower than the state median of 0.88% but still higher than the national median of 0.99%. With the median home value in Black Diamond at $674,000, the typical annual property tax bill reaches $5,828, substantially exceeding the national median of $2,690. Property taxes in Black Diamond 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 Black Diamond'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 Black Diamond 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

Black Diamond, Washington Property Tax Bill Calculator

$100,000

$2,500,000

$5,000,000

Average Tax Rate

0.88%

Estimate Property Tax Bill

$1,760

$612

SAVE WITH OWNWELL

$1,148

Average Black Diamond, Washington Tax Savings

Ownwell’s Black Diamond Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Black Diamond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Black Diamond to estimate your property tax bill. This insightful tool not only helps you understand potential tax liabilities but also illustrates how Ownwell can assist in reducing property taxes in Black Diamond. 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 Black Diamond, Washington

Property taxes in Black Diamond, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Black Diamond is 0.85%, which is lower than the U.S. national median of 0.99%. Local government entities within Black Diamond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Black Diamond 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 Black Diamond's effective property tax rate to other areas in King County and the national median. For comparison, the zip code 98010 has the highest median property tax rate of 0.85%, while the same zip code also has the lowest median tax rate of 0.85%. Understanding how these cities compare with Black Diamond provides valuable insights into the varying tax landscape across King County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Black Diamond, Washington

Source: Ownwell

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0.15%

0.68%

1.22%

Average Black Diamond Tax Rate

0.85%

Average King County Tax Rate

0.88%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across Black Diamond, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
980100.83%0.84%0.85%0.94%1.02%

Source: Ownwell

Property Tax Assessment Values Across Black Diamond, Washington

In Black Diamond, 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 King 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 Black Diamond, 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 Black Diamond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Black Diamond is $674,000, with tax bills ranging from $4,467 at the 25th percentile to $12,443 at the 90th percentile. The highest and lowest median tax bills, both at $5,828, are found in the 98010 zip code.

Property Tax Assessment Values Across Black Diamond, Washington

Source: Ownwell

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$238,500

$11,294,750

$22,351,000

Average Black Diamond Assessed Value

$674,000

Average King County Assessed Value

$770,000

Average Washington Assessed Value

$482,000

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Black Diamond, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98010$347,000$513,000$674,000$822,000$1,279,300

Source: Ownwell

Property Tax Bills Across Black Diamond, Washington

In Black Diamond, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the King County Assessor’s Office. The assessed value is then multiplied by the local tax rate. With the median home price at $674,000, homeowners can expect a tax bill ranging from $4,467 at the 25th percentile to $12,443 at the 90th percentile. The highest median tax bill in the area is $5,828, which is significantly above the national median property tax rate of 0.99%. Factors influencing these tax bills include property location, local tax levies, and any applicable exemptions. High property taxes can place a financial burden on homeowners, affecting their ability to manage household budgets. Ownwell helps homeowners save on their property tax bills by providing professional property tax appeal and exemption services. Our experts review your property’s assessment for inaccuracies and work to ensure you are not overpaying. By leveraging our expertise, you can potentially reduce your tax liability and achieve substantial savings.

Property Tax Bills Across Black Diamond, Washington

Source: Ownwell

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$1,821

$79,930

$158,039

Average Black Diamond Tax Bill

$5,828

Average King County Tax Bill

$7,093

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across Black Diamond, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98010$2,759$4,471$5,828$7,129$12,455

Source: Ownwell

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