Fox Island, Washington Property Taxes
The median property tax rate in Fox Island, WA is 0.81%, which is lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $902,850, the typical annual property tax bill in Fox Island reaches $7,099, significantly exceeding the national median of $2,690. Property taxes in Fox Island are calculated based on the tax assessed value, often lower than the market value due to various exemptions, such as primary residence and agricultural exemptions. Understanding Fox Island's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Fox Island 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
Fox Island, 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
$1,148
Average Fox Island, Washington Tax Savings
Ownwell’s FOX ISLAND Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in FOX ISLAND with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in FOX ISLAND 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 FOX ISLAND. 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 Fox Island, Washington
Property taxes in Fox Island, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Fox Island is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Fox Island set these rates annually, and they can vary significantly across different neighborhoods. Each year, Fox Island 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 Fox Island's effective property tax rate to other areas in Pierce County and the national median. For comparison, the zip code 98333 has both the highest and lowest median property tax rate in the region at 0.81%. Understanding how these areas compare with Fox Island provides valuable insights into the varying tax landscape across Pierce County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Fox Island Tax Rate
0.81%
Average Pierce County Tax Rate
1.02%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Fox Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98333 | 0.77% | 0.77% | 0.81% | 0.82% | 0.83% |
Source: Ownwell
$1,148
Average Fox Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Fox Island, Washington
In Fox Island, 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 Pierce 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 Fox Island, 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 Fox Island helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in the area are both $7,099, found in the 98333 zip code.
Property Tax Assessment Values Across Fox Island, Washington
Source: Ownwell
$21,400
$1,254,100
$2,486,800
Average Fox Island Assessed Value
$902,850
Average Pierce County Assessed Value
$465,900
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Fox Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98333 | $505,290 | $648,675 | $902,850 | $1,280,950 | $1,692,630 |
Source: Ownwell
$1,148
Average Fox Island Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Fox Island, Washington
In Fox Island, WA, property tax bills are calculated based on the assessed value of your home, which is determined by the Pierce County Assessor's Office. The assessed value is then multiplied by the local tax rate to determine your tax bill. For instance, with a median home price of $902,850, homeowners can expect tax bills to vary significantly. The 25th percentile tax bill is around $5,201, while the 75th percentile reaches $10,059, and the 90th percentile can go up to $13,159. Given that the national median property tax rate stands at 0.99%, Fox Island homeowners may find their tax bills higher due to local rates and property values. This can place a significant financial burden on homeowners. Ownwell helps by offering property tax appeal and exemption services to potentially lower your tax bill. Through professional assessments and strategic appeals, Ownwell can identify discrepancies in property valuations and work to ensure you are not overpaying on your property taxes, ultimately saving you money.
Average Fox Island Tax Bill
$7,099
Average Pierce County Tax Bill
$4,693
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Fox Island, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98333 | $3,973 | $5,201 | $7,099 | $10,059 | $13,159 |
Source: Ownwell
$1,148
Average Fox Island Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | August 26 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Pierce Tax Assessor | |
| Phone | (253) 798-6111 |
| Website | atip.piercecountywa.gov |
| pcatr@piercecountywa.gov | |
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