Renton, Washington Property Taxes
The median property tax rate in Renton, WA is 0.97%, slightly lower than the national median of 0.99% but higher than the Washington state median of 0.88%. With a median home value of $677,000, the typical annual property tax bill in Renton reaches $6,746, significantly exceeding the national median of $2,690. Property taxes in Renton are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like primary residence and agricultural exemptions. Understanding Renton’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 Renton 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
Renton, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.97%
Estimate Property Tax Bill
$6,567
$6,415
$1,148
Average Renton, Washington Tax Savings
Ownwell’s Renton Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Renton with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Renton 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 Renton. 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 Renton, Washington
Property taxes in Renton, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Renton is 0.97%, slightly below the U.S. national median of 0.99%. Local government entities within Renton set these rates annually, and they can vary significantly across different neighborhoods. Each year, Renton 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 Renton's effective property tax rate to other areas in King County and the national median. For comparison, the 98058 zip code has the highest median property tax rate of 1.06%, while the 98059 zip code has the lowest median tax rate of 0.96%. Understanding how these areas compare with Renton 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.
Average Renton Tax Rate
0.97%
Average King County Tax Rate
0.88%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Renton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98055 | 0.97% | 0.97% | 0.97% | 0.98% | 1.00% |
| 98056 | 0.95% | 0.96% | 0.96% | 0.97% | 0.98% |
| 98057 | 0.96% | 0.97% | 0.98% | 0.99% | 1.00% |
| 98058 | 0.97% | 0.97% | 1.06% | 1.10% | 1.11% |
| 98059 | 0.88% | 0.94% | 0.96% | 0.97% | 1.01% |
Source: Ownwell
$1,148
Average Renton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Renton, Washington
In Renton, 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 Renton, 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 Renton helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the highest median tax bill in Renton is $7,987 in the 98059 zip code, while the lowest is $4,921 in the 98057 zip code. The median home price in Renton is $677,000, with annual tax bills ranging from $5,134 at the 25th percentile to $10,385 at the 90th percentile.
Property Tax Assessment Values Across Renton, Washington
Source: Ownwell
$238,500
$11,294,750
$22,351,000
Average Renton Assessed Value
$677,000
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 Renton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98055 | $297,000 | $446,000 | $590,000 | $691,000 | $813,400 |
| 98056 | $362,000 | $546,000 | $690,000 | $889,000 | $1,191,400 |
| 98057 | $254,000 | $389,250 | $514,000 | $664,250 | $885,000 |
| 98058 | $371,000 | $541,000 | $647,000 | $760,000 | $924,900 |
| 98059 | $561,100 | $681,000 | $831,000 | $1,042,000 | $1,225,000 |
Source: Ownwell
$1,148
Average Renton Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Renton, Washington
Property tax bills in Renton, King County, WA, are calculated based on the assessed value of a property. The local tax rate is applied to this assessed value to determine the annual tax bill. Factors such as the property's market value, location, and any applicable exemptions influence the assessed value. In Renton, the median home price stands at $677,000, with tax bills ranging from $5,134 at the 25th percentile to $10,385 at the 90th percentile. The highest median tax bill in the area is $7,987 in the 98059 zip code, while the lowest is $4,921 in the 98057 zip code. These figures highlight the variability in tax bills across different neighborhoods. Ownwell can assist homeowners in Renton by providing expert property tax appeal and exemption services. By reviewing your property's assessed value and comparing it to market trends, Ownwell can identify opportunities for reductions. This can result in significant savings, ensuring you pay only your fair share in property taxes.
Average Renton Tax Bill
$6,746
Average King County Tax Bill
$7,093
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Renton, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98055 | $2,714 | $4,040 | $5,670 | $6,714 | $7,949 |
| 98056 | $3,032 | $5,094 | $6,622 | $8,575 | $11,314 |
| 98057 | $2,196 | $3,572 | $4,921 | $6,419 | $8,761 |
| 98058 | $3,243 | $5,219 | $6,800 | $8,067 | $9,636 |
| 98059 | $4,880 | $6,517 | $7,987 | $9,661 | $11,393 |
Source: Ownwell
$1,148
Average Renton Tax Savings
Save on your property taxes & more with 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 | |
|---|---|
| King Tax Assessor | |
| Phone | (206) 296-7300 |
| Website | blue.kingcounty.com |
| assessor.info@kingcounty.gov | |
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