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South Prairie, Washington Property Taxes

The median property tax rate in South Prairie, WA is 0.87%, slightly lower than both the national median of 0.99% and the Washington state median of 0.88%. With a median home value of $409,100 in South Prairie, the typical annual property tax bill reaches $3,495, surpassing the national median of $2,690. Property taxes in South Prairie are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, such as those for primary residences and agricultural properties. Understanding South Prairie'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 South Prairie 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

South Prairie, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

0.87%

Estimate Property Tax Bill

$3,559

$3,477

SAVE WITH OWNWELL

$1,148

Average South Prairie, Washington Tax Savings

Ownwell’s South Prairie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in South Prairie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in South Prairie 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 South Prairie. 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 South Prairie, Washington

Property taxes in South Prairie, Washington, play a crucial role in funding essential local services, including public schools, road maintenance, and emergency services. The median tax rate in South Prairie is 0.87%, which is lower than the U.S. national median of 0.99%. Local government entities within South Prairie set these rates annually, and they can vary significantly across different neighborhoods. Each year, South Prairie 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. For comparison, the zip code 98385 has both the highest and lowest median property tax rate of 0.87%. Understanding how these figures compare with South Prairie 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.

Property Tax Rates Across South Prairie, Washington

Source: Ownwell

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0.67%

1.05%

1.43%

Average South Prairie Tax Rate

0.87%

Average Pierce County Tax Rate

1.02%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across South Prairie, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
983850.78%0.84%0.87%0.89%0.92%

Source: Ownwell

Property Tax Assessment Values Across South Prairie, Washington

In South Prairie, 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 Assessor-Treasurer 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 South Prairie, 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 South Prairie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in South Prairie is $409,100, with tax bills ranging from $2,924 at the 25th percentile to $5,311 at the 90th percentile. The highest and lowest median tax bills are both $3,498, found in the 98385 zip code.

Property Tax Assessment Values Across South Prairie, Washington

Source: Ownwell

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$21,400

$1,254,100

$2,486,800

Average South Prairie Assessed Value

$409,100

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 South Prairie, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98385$298,360$359,925$410,550$457,150$610,670

Source: Ownwell

Property Tax Bills Across South Prairie, Washington

Property tax bills in South Prairie, located in Pierce County, WA, are calculated based on the assessed value of a property. The assessed value is determined by local tax authorities and is a percentage of the property's market value. Homeowners in South Prairie face a median property tax rate that is influenced by various factors, including local government budgets, school funding requirements, and public service needs. For instance, the median home price in South Prairie is $409,100, with property tax bills ranging from $2,924 at the 25th percentile to $5,311 at the 90th percentile. This variability can significantly impact homeowners, especially when the local median tax bill of $3,498 is considered against the national median property tax rate of 0.99%. Ownwell can assist homeowners in reducing their property tax bills by providing expert property tax appeal and exemption services. By analyzing property assessments and identifying discrepancies, Ownwell helps ensure that homeowners are not overpaying on their property taxes, potentially saving them hundreds or even thousands of dollars annually.

Property Tax Bills Across South Prairie, Washington

Source: Ownwell

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$144

$16,665

$33,185

Average South Prairie Tax Bill

$3,495

Average Pierce County Tax Bill

$4,693

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across South Prairie, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98385$1,872$2,937$3,498$3,945$5,365

Source: Ownwell

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