Omak, Washington Property Taxes
The median property tax rate in Omak, WA is 1.04%, slightly higher than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Omak at $146,500, the typical annual property tax bill reaches $1,404, which is below the national median of $2,690. Property taxes in Omak 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 Omak'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 Omak 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
Omak, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.04%
Estimate Property Tax Bill
$1,524
$1,488
Ownwell’s Omak Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Omak with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Omak 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 Omak, Washington
Property taxes in Omak, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Omak is 1.04%, higher than the U.S. national median of 0.99%. Local government entities within Omak set these rates annually, and they can vary significantly across different neighborhoods. Each year, Omak 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 Omak's effective property tax rate to other areas in Okanogan County and the national median. For comparison, the zip code 98841 has both the highest and lowest median property tax rate of 1.04%. Understanding how these areas compare with Omak provides valuable insights into the varying tax landscape across Okanogan County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Omak Tax Rate
1.04%
Average Okanogan County Tax Rate
1.08%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Omak, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98841 | 0.28% | 0.94% | 1.04% | 1.07% | 1.08% |
Source: Ownwell
Property Tax Assessment Values Across Omak, Washington
In Omak, 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 Okanogan 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 Omak, 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 Omak helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Omak is $146,500, with tax bills ranging from $759 at the 25th percentile to $2,994 at the 90th percentile. The highest and lowest median tax bill in the area is $1,404, found in zip code 98841.
Average Omak Assessed Value
$146,500
Average Okanogan County Assessed Value
$128,000
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Omak, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98841 | $50,920 | $93,800 | $146,500 | $212,400 | $299,560 |
Source: Ownwell
Property Tax Bills Across Omak, Washington
In Omak, located in Okanogan County, WA, property tax bills are calculated based on the assessed value of a home and the local tax rate. The median home price in Omak stands at $146,500. Property taxes are determined by multiplying the assessed value by the tax rate set by local authorities. Factors such as property location, improvements, and market conditions are considered during the assessment process. For homeowners, this means that property taxes can vary significantly. In Omak, the 25th percentile of tax bills is around $759, while the 75th percentile reaches $2,109. The 90th percentile tax bill can be as high as $2,994. These figures illustrate the range of property tax obligations that homeowners might face, depending on their property's assessed value and specific circumstances. With the national median property tax rate at 0.99%, understanding these local variations is crucial for homeowners in Omak to effectively manage their property tax responsibilities.
Average Omak Tax Bill
$1,404
Average Okanogan County Tax Bill
$1,302
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Omak, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98841 | $211 | $759 | $1,404 | $2,109 | $2,994 |
Source: Ownwell