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Lake Stevens, Washington Property Taxes

The median property tax rate in Lake Stevens, WA is 0.86%, slightly below the state median of 0.88% but still notable when compared to the national median of 0.99%. With a median home value of $602,100, the typical annual property tax bill in Lake Stevens reaches $5,078, significantly higher than the national median of $2,690. Property taxes here are calculated based on the tax assessed value, which is often lower than the market value due to various exemptions such as primary residence and agricultural exemptions. Understanding Lake Stevens' property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Lake Stevens 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

Lake Stevens, Washington Property Tax Bill Calculator

$100,000

$1,500,000

$3,000,000

Average Tax Rate

0.86%

Estimate Property Tax Bill

$5,178

$5,059

SAVE WITH OWNWELL

$1,148

Average Lake Stevens, Washington Tax Savings

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

Property taxes in Lake Stevens, Washington, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Lake Stevens is 0.86%, which is lower than the U.S. national median of 0.99%. Local government entities within Lake Stevens set these rates annually, and they can vary significantly across different neighborhoods. Each year, Lake Stevens 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 Lake Stevens' effective property tax rate to other areas in Washington and the national median. For comparison, the 98258 zip code has both the highest and lowest median property tax rate of 0.86%. Understanding how these cities compare with Lake Stevens provides valuable insights into the varying tax landscape across Snohomish County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.

Property Tax Rates Across Lake Stevens, Washington

Source: Ownwell

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0.46%

0.68%

0.90%

Average Lake Stevens Tax Rate

0.86%

Average Snohomish County Tax Rate

0.79%

Average Washington Tax Rate

0.88%

Average United States Tax Rate

0.99%

Property Tax Rates Across Lake Stevens, Washington

Zip10th Percentile25th PercentileMedian Tax Rate75th Percentile90th Percentile
982580.80%0.84%0.86%0.86%0.88%

Source: Ownwell

Property Tax Assessment Values Across Lake Stevens, Washington

In Lake Stevens, 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 Snohomish County Assessor's Office 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 Lake Stevens, 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 Lake Stevens helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 98258 has the highest median tax bill of $5,078, which is also the lowest median tax bill in the area.

Property Tax Assessment Values Across Lake Stevens, Washington

Source: Ownwell

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$2,900

$1,092,200

$2,181,500

Average Lake Stevens Assessed Value

$602,100

Average Snohomish County Assessed Value

$668,100

Average Washington Assessed Value

$482,000

Average United States Assessed Value

$244,900

Property Tax Assessment Values Across Lake Stevens, Washington

Zip10th Percentile25th PercentileMedian Home Price75th Percentile90th Percentile
98258$409,400$522,100$602,100$709,650$875,100

Source: Ownwell

Property Tax Bills Across Lake Stevens, Washington

In Lake Stevens, Snohomish 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 Lake Stevens is $602,100, and property tax rates are applied to this assessed value to determine the tax bill. Factors such as property improvements, market trends, and neighborhood changes can influence the assessed value. For homeowners, this means that fluctuations in the real estate market can directly impact their annual property tax bills, which range from $4,371 at the 25th percentile to $7,117 at the 90th percentile. Ownwell helps homeowners save on their property tax bills by providing expert property tax appeal and exemption services. By analyzing the assessed value of your home and comparing it with market data, Ownwell identifies discrepancies and files appeals on your behalf. This can lead to significant savings, ensuring you are not overpaying on your property taxes. With Ownwell's assistance, homeowners in Lake Stevens can potentially reduce their financial burden and keep more money in their pockets.

Property Tax Bills Across Lake Stevens, Washington

Source: Ownwell

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$17

$7,253

$14,489

Average Lake Stevens Tax Bill

$5,078

Average Snohomish County Tax Bill

$5,180

Average Washington Tax Bill

$4,284

Average United States Tax Bill

$2,690

Property Tax Bills Across Lake Stevens, Washington

Zip10th Percentile25th PercentileMedian Tax Bill75th Percentile90th Percentile
98258$3,033$4,371$5,078$5,942$7,117

Source: Ownwell

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