Lyman, Washington Property Taxes
The median property tax rate in Lyman, 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 Lyman at $335,050, the typical annual property tax bill reaches $2,666, just below the national median of $2,690. Property taxes in Lyman 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 Lyman'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 Lyman 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
Lyman, Washington Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$2,714
-$28,442
$1,148
Average Lyman, Washington Tax Savings
Ownwell’s Lyman Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Lyman with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Lyman 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 Lyman. 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 Lyman, Washington
Property taxes in Lyman, Washington, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lyman is 0.81%, lower than both the Washington state median and the U.S. national median of 0.99%. Local government entities within Lyman set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lyman 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 Lyman's effective property tax rate to other areas in Washington and the national median. For comparison, the 98263 zip code has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these cities compare with Lyman provides valuable insights into the varying tax landscape across Skagit County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Lyman Tax Rate
0.81%
Average Skagit County Tax Rate
0.86%
Average Washington Tax Rate
0.88%
Average United States Tax Rate
0.99%
Property Tax Rates Across Lyman, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98263 | 0.72% | 0.80% | 0.81% | 0.81% | 0.82% |
Source: Ownwell
$1,148
Average Lyman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Assessment Values Across Lyman, Washington
In Lyman, 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 Skagit 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 Lyman, 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 Lyman 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 $2,666, found in zip code 98263.
Average Lyman Assessed Value
$335,050
Average Skagit County Assessed Value
$473,200
Average Washington Assessed Value
$482,000
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Lyman, Washington
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98263 | $248,360 | $288,675 | $335,050 | $399,350 | $517,010 |
Source: Ownwell
$1,148
Average Lyman Tax Savings
Save on your property taxes & more with Ownwell.
Property Tax Bills Across Lyman, Washington
In Lyman, Skagit County, WA, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The median home price in Lyman is $335,050, and the property tax rate is 0.99%, aligning with the national median. Factors such as property improvements, market conditions, and neighborhood trends influence the assessed value. Consequently, homeowners in Lyman can expect to pay between $2,227 and $4,014 annually, with the median tax bill being $2,666. High property taxes can be a burden, but Ownwell can help homeowners reduce their tax bills through professional property tax appeal and exemption services. By analyzing your property's assessed value and comparing it to similar properties, Ownwell identifies discrepancies and files appeals on your behalf. This can result in significant savings, ensuring you only pay your fair share. Let Ownwell's expertise guide you in navigating the complexities of property tax assessments and securing potential reductions.
Average Lyman Tax Bill
$2,666
Average Skagit County Tax Bill
$4,058
Average Washington Tax Bill
$4,284
Average United States Tax Bill
$2,690
Property Tax Bills Across Lyman, Washington
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98263 | $1,532 | $2,227 | $2,666 | $3,198 | $4,014 |
Source: Ownwell
$1,148
Average Lyman Tax Savings
Save on your property taxes & more with Ownwell.
Don't miss the deadline to appeal!
Dates | |
|---|---|
| Appeal Deadline | November 12 |
| Tax Bill | |
| Issued | February 10 |
| Due Date #1 | April 30 |
| Due Date #2 | October 31 |
Links | |
|---|---|
| Skagit Tax Assessor | |
| Website | skagitcounty.net |
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