Raymond, Washington Property Taxes
The median property tax rate in Raymond, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With the median home value in Raymond at $207,950, the typical annual property tax bill amounts to $1,581, falling below the national median of $2,690. Property taxes in Raymond 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 Raymond'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 Raymond 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
Raymond, 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 Raymond Property Tax Bill Calculator empowers homeowners, real estate investors, and potential buyers to estimate their annual property taxes in Raymond with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Raymond 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 Raymond, Washington
Property taxes in Raymond, Washington, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Raymond is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Raymond set these rates annually, and they can vary significantly across different neighborhoods. Each year, Raymond 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 Raymond's effective property tax rate to other counties in Washington and the national median. For comparison, the 98577 zip code has the highest median property tax rate of 0.81%, while the same 98577 zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Raymond provides valuable insights into the varying tax landscape across Pacific County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Raymond Tax Rate
0.81%
Average Pacific County Tax Rate
0.79%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Raymond, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98577 | 0.19% | 0.78% | 0.81% | 0.81% | 0.83% |
Source: Ownwell
Property Tax Assessment Values Across Raymond, Washington
In Raymond, 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 Pacific 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 Raymond, 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. For instance, the median home price is $207,950, with tax bills ranging from $960 at the 25th percentile to $3,283 at the 90th percentile. The highest and lowest median tax bills are both $1,581 in the 98577 zip code. Being aware of these valuation processes in Raymond helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Raymond Assessed Value
$207,950
Average Pacific County Assessed Value
$192,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Raymond, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98577 | $93,800 | $146,900 | $207,950 | $299,800 | $417,870 |
Source: Ownwell
Property Tax Bills Across Raymond, Washington
In Raymond, located in Pacific County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. For homeowners in Raymond, the median home price is $207,950. Several factors influence the final tax bill, including the assessed value of the property and the specific tax rate applied. Homeowners in Raymond can expect their tax bills to vary significantly. For instance, the tax bill at the 25th percentile is around $960, while the 75th percentile sees bills of about $2,313, and the 90th percentile reaches up to $3,283. Comparatively, the national median property tax rate is 0.99%, which offers a benchmark to understand how local rates may affect homeowners differently. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Raymond Tax Bill
$1,581
Average Pacific County Tax Bill
$1,389
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Raymond, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98577 | $245 | $960 | $1,581 | $2,313 | $3,283 |
Source: Ownwell